The price of that Chevy Volt may go down another $2,500 this week, before the car even reaches production, thanks to President Obama's massive economic stimulus proposal

Kicking Tires explains, "Last year, legislators passed new rules about plug-in hybrids and their tax credits. Vehicles like the upcoming Chevy Volt would qualify for the maximum credit of $7,500. However, as part of the stimulus bill being considered in Washington, that amount would jump to $10,000."

Green Car Congress reports that the measure would also increase the number of cars eligible for the credit, modifying "the plug-in electric drive motor vehicle credit by increasing the original 250,000-vehicle limitation to 500,000 four-wheeled units."

One of the crucial questions about the Volt has always been its price. General Motors has spent billions developing the vehicle and would likely need to set a high price in order to recover that investment, but needs to keep the price low enough to make the car competitive. The new proposal, Kicking Tires points out, gives GM more breathing room when pricing the car. Assuming the measure passes, "If the Volt cost $40,000, the price after rebate would be $30,000, putting it pretty close to the price of a well-equipped Toyota Prius."

Texas buyers might even qualify for a bigger discount. According to Autoblog Green, Texas Governor Rick Perry (R) has proposed "a $5,000 incentive towards a purchase of Plug-In Hybrid Electric Vehicles" in areas of that state that have significant air quality problems.

Both the $10,000 federal rebate and the proposed Texas credit, we should note, would apply to other electric-powered passenger cars as well, such as an all-electric Nissan that may appear by 2010, or the proposed Chrysler 200C.

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