Want a $3,400 tax credit on the 2010 Ford Fusion/Mercury Milan Hybrid that is getting great reviews? Looks like you're going to have to get in line with the early adopters. Green Car Advisor reports that the tax credit will drop to $1,700 on April 1. No, this isn't an April Fool's joke that Ford is playing on the public.
Ford has reached its sales threshold of 60,000 hybrids, and must begin the phase out period for the tax credits. Under the guidelines stated in the Energy Policy Act of 2005 , the allowable tax credit must be reduced by 50 percent for two calendar quarters. After about six months, that credit will reduce by 25 percent, and by next year it will be completely phased out.
You might be thinking: "No big deal, I have about two months to go get one." It's not that simple. The problem is, the cars will not be available until sometime in the spring. "That could be early March, but it could be later," said a Ford spokeswoman quoted in the article.
It's not an impossible situation and there are steps you can take to ensure you are eligible for the full credit. Check out the Green Car Advisor Blog to get the full story.
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