If you were an early adopter of an electric vehicle, boy, did the US government make it a sweet deal for you. That's because if you purchased one of the first 200,000 EV units from an automaker, you walked away with a $7,500 tax credit.
That's a good chunk of coin back in your wallet!
For many buyers, this is a critical component of the decision they make. Although some would argue that most EV buyers leveraging the credit are of the wealthier persuasion.
Having said that, we've got to wonder: IF President Trump's new budget gets passed and the EV tax hits the chopping block, do YOU think this will decimate EV sales?
Or, are we beyond that with EVs having matured in the marketplace now?
What say you, Spies?
The White House proposed on Monday eliminating a tax credit worth up to $7,500 on the purchase of new electric vehicles, a move it says would save the U.S. government $2.5 billion over a decade.
Major automakers have been lobbying Congress to extend the credit that phases out after companies hit 200,000 vehicles sold. They are hopeful Congress could expand the benefit by including it in a package of extended tax provisions that would otherwise expire that could win approval this year.
Tesla Inc and General Motors Co both hit the 200,000 figure last year, but other major automakers are far from that figure. The credit consumers receive for buying Teslas fell to $3,750 on Jan. 1 and will drop to $1,875 for six months starting July 1...
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