February 20, 2024

Brighton Journal

Complete News World

Whitmer introduces Michigan tax deduction plan for new car purchases

Whitmer introduces Michigan tax deduction plan for new car purchases

Lansing — Gov. Gretchen Whitmer is expanding a plan to give consumers Michigan tax rebates for new vehicle purchases ranging from electric-only engines to internal combustion engines as well, with the larger rebates tied to purchases of Union Shop-built vehicles.

Under the plan unveiled Wednesday, individuals who purchase a new electric or hybrid vehicle will receive a $2,000 rebate, and those who purchase a new gas-powered vehicle will receive a $1,000 rebate. Both rebates would increase by $500 if the vehicle was manufactured in a facility where the union represents the workers.

Whitmer plans to ask the Democratic-led Legislature for $25 million in the upcoming budget to fund the program. If implemented, the electric vehicle rebate — when tied to a $7,500 federal credit — could save buyers up to $10,000 on an electric vehicle or plug-in hybrid sale.