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Us Lawmakers Draft New Bill To Expand Federal Electric Vehicle Tax Credits

Discussion in 'General Discussion' started by TexasTesla, Apr 11, 2019.

  1. TexasTesla

    TexasTesla Elio Addict

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    US lawmakers draft new bill to expand federal electric vehicle tax credits...

    Published Wed, 10 April 2019

    CNBC.com
    • The existing $7,500 tax credit for buyers of EVs phases out over 15 months once an automaker sells 200,000 electric cars.
    • The tax credit for Tesla buyers was halved to $3,750 on Jan. 1.
    • GM's tax credit likewise fell starting April 1.
    A bipartisan group of lawmakers plans to introduce a bill to expand federal tax credits for buyers of electric vehicles, in what could be a boon for the growing EV market.

    The existing $7,500 tax credit for buyers of EVs phases out over 15 months once an automaker sells 200,000 electric cars. The tax credit for Tesla buyers was halved to $3,750 on Jan. 1. General Motor's tax credit was likewise cut in half starting April 1.

    The bill, dubbed the Driving America Forward Act, would grant each automaker a $7,000 tax credit for an additional 400,000 vehicles after it exhausts the first 200,000 vehicles eligible for tax credits. It would shorten the phase-out schedule to nine months. The credits are paid directly to consumers, who can write them off on their tax returns.

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  2. Burg

    Burg Elio Aficionado

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    Probably because your boi wants to kill it. They are just trying to get ahead of it.

    https://www.detroitnews.com/story/b...l-advanced-technology-car-program/3130329002/
     

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