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Chevy Volt Picture.

You’re one step closer to affording a 100 mpg car. Late yesterday, the Senate approved a measure that would grant tax credits to buyers of plug-in hybrids and electric vehicles. A similar measure has already passed the House of Representatives. President Bush has not indicated whether he will sign the legislation.

Motor Trend reports, “As part of the new bill, buyers of plug-in electric vehicles would be eligible for a tax credit ranging from $2500 to $7500 depending on the vehicle’s battery capacity. According to the bill’s guidelines, it is thought that Chevrolet Volt buyers would receive the maximum credit, giving a sales advantage to GM’s upcoming eco-ride.”

Autoblog adds, “Chrysler’s recently shown electric vehicles would theoretically qualify if they ever see the light of day.”

One vehicle that won’t be covered by the new tax credits is the current poster-child for green cars, the Toyota Prius. MT notes, “Criticism of the bill comes strong from Toyota, who argues that the bill will target buyers of the Volt, but not the competition…Toyota insists that the bill should equally target all plug-in electric vehicle buyers, allowing consumers to determine market winners, not the government.”

Neither Chevrolet nor Chrysler has revealed any pricing details on their upcoming plug-in vehicles. Development of the cars has been very expensive, and analysts fear the companies may have to sell the cars at a very high price. The automakers hope the tax credits will help make the cars affordable.

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