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Report: EV Credit Still Alive in Congressional Tax Reform Bill
Congressional negotiators from the Senate and House have agreed to retain the government’s $7,500 tax credit for buyers of electric cars, sources tell Bloomberg News.
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Congressional negotiators from the Senate and House have agreed to retain the government’s $7,500 tax credit for buyers of electric cars, sources tell Bloomberg News.
The credit, which was introduced in 2009, had been axed in the House version of the $1.5 trillion tax bill but was spared in the Senate version. Bloomberg says analysts estimate that dropping the incentive would save $200 million over 10 years.
The current credit applies to the first 200,000 qualifying vehicles sold by a given carmaker. None has reached that volume yet.
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