Fiscal Cliff Deal Extends Tax Credits

video preview image

ASHLAND, Ore. – The Fiscal Cliff deal, passed Monday, is putting a charge into one Southern Oregon industry. Part of that fiscal cliff package is a boost to the electric vehicle industry.

Brammo Electric Motorcycles in Ashland has been expanding for years, in part because of the tax credit that comes with buying their vehicles and Oregon lawmakers agreed that they should not put the breaks on a growing industry.

The fiscal cliff deal includes an extension of the electric vehicle tax credit. Brammo says that credit is about 10 percent the cost of their motorcycles. CEO Craig Bramscher says that’s huge, because it’s a great incentive to keep people buying electric vehicles.

Bramscher says the technology is still expensive, but that tax credit is sometimes the deciding factor for customers and as more people buy electric vehicles, the cost can come down. Bramscher says he had been speaking with Oregon’s members of congress, and says it was their hard work that pushed it through.

Senator Ron Wyden said he expects the industry to create tens of thousands of jobs over the next five years. He singles out Brammo for leading the way for electric vehicle companies, and said the deal will help the country move away from fossil fuels.