Senate Republicans have introduced legislation to end the federal electric vehicle and charging stations tax credit.
The Eliminating Lavish Incentives to Electric (ELITE) Vehicles Act — led by U.S. Senator John Barrasso, R-Wyoming — stops taxpayer money from subsidizing the purchase of luxury electric vehicles for high-income individuals and corporations, U.S. Senator Shelley Moore Capito, R-W.Va., announced Friday.
“There is no reason that U.S. taxpayers should be bankrolling luxury electric vehicle purchases for wealthy individuals or foreign entities,” Capito said. “This commonsense legislation dismantles loopholes that are artificially supporting the electric vehicle industry and sidestepping tax credit guidelines at the expense of American citizens. I’m proud to join my colleagues and introduce this legislation to remove the Biden administration’s misguided influence on the expensive electric vehicle industry.”
States who still want to encourage sales could still have state incentives.
Are you with them or against them on this? And is it really only for the rich?
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