Oregon Pauses $2000 to $5000 Rebates As The State Runs Low On Cash

C. Heslop

Cash rebates of up to $5,000 are on pause due to low cash flow. The state will use the time to source new sources of funds. The program will be temporarily suspended starting May 1. The compensation terms have changed to ensure people who qualify can get the benefit at a later date.

Paused Rebate Program

The Oregon Department of Environmental Quality (DEQ) announced the rebate for electric vehicles (EV). The program's suspension starts May 1. Residents can buy the vehicle by the deadline and apply for the rebate within six months. The reward is between $2,500 and $5,000 depending on the person's income.

Why the pause? The program's budget is $15.5 million. Officials expect that amount to finish in two months. When the fund depletes, eligible persons will move to a waiting list for payment in early 2024. By then, the department expects to get its next allotment of funds.

“DEQ has one of the most generous EV rebate programs in the country. It has been extremely successful, and 2023 rebate applications are coming in at our highest rate yet," said Oregon DEQ Director Leah Feldon. "People are choosing electric vehicles and rebates are instrumental in lowering the costs to Oregonians.”

Since the programs establishment, 25,000 EV buyers received $68 million in rewards. The benefit are for residents who lease, buy, or rent EVs.

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*Disclaimer: This article is for informational purposes only. This article got written using accredited media reports. Below are affiliate links. *Advice Disclaimer: The article and the information contained herein are not intended to be a source of advice.*

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