The original "bailout plan" by Treasury Secretary Paulson was 3 pages long. The Senate version that was passed last night (H.R. 1424) is now 451 pages long and it has "sweeteners" for everybody and their dogs.
One of those is a plug-in hybrid vehicle tax credit that was probably first seen in some GM wet dream: "The credit is a base $2,500 plus $417 for each kWh of battery pack capacity in excess of 4 kWh, to a maximum of $7,500 for light-duty vehicles," up to $15,000 for vehicles weighting more than 26,000 pounds. Because the Chevy Volt has a 16-kWh battery pack, it would get the maximum credit.
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