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Take the incremental gas tax revenue and distribute it as tax credits for PHEV and EV buyers.

On second thought, it would probably be useful to find a way for consumers to receive the credit at the time of purchase, so the consumer doesn't have to finance the additional cost of the vehicle and wait to receive the credit in the following year. Reducing the initial capital outlay (or the initial amount financed and corresponding monthly payments) would probably reduce the barrier to purchasing new EV/HEV/PHEVs for a lot more consumers and hasten their adoption.
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