Proposed Tax Plan Could Kill $7500 Federal Tax Credit For EV Vehicles

Electric vehicles have caught the eye of many American consumers. But it’s not only the cars’ green cred that seals the deal. Another big lure: a federal tax credit of up to $7,500 per vehicle. Now that lucrative incentive may be fading away for two reasons.

First, buyers of vehicles from leading EV makers such as Tesla Inc. and General Motors Co. could soon use up the maximum value of tax credits for their brands. (They’re capped for each manufacturer.) But worse for the entire industry, all EV credit provisions in the U.S. tax code are at risk of being eliminated as part of the horse trading under way over a tax cut bill.
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TomM - 11/2/2017 2:50:35 PM

-3 Boost

If the majority congress has their way - we will be using steam cars powered by open COAL fires. After all -this greenhouse gas stuff is nonsense - no use trying to regulate emissions anymore.

Thankfully - the states can and will not agree

xjug1987a - 11/3/2017 9:41:07 AM

+2 Boost

Pretty sure if “Americans” had their way we’d all drive whatever we wanted... ie: freedom and liberty. We’d drive the best and most innovative cars the market demands. Not a minority telling everyone else what to drive, what to think, what to eat, how to raise our kids, we have what we have due to “privilege”, we didn’t build this nation, we have to show “tolerance” to offensive people who refuse to respond in kind and in fact get violent if they don’t have their way and demand their version of “free” speech. As for “climate change” it’s all based on models. And no need to add a 6” response w pseudoscience and selective pseudo “facts”.

MDarringer - 11/2/2017 6:24:06 PM

+11 Boost

There should be no tax credit nor penalty for one's vehicular choice.

800over - 11/6/2017 9:15:25 AM

+1 Boost

Does this mean you guys don't think the oil companies get tax breaks? or do you mean they shouldn't have them? If so then I agree 100%. No tax breaks for oil companies and and no reduced oversight of pollution. You wan't to pull something out of the ground and cause damage to the environment then you have to clean it up. Whether it is oil or coal or Lithium for batteries.

MrEE - 11/2/2017 7:12:15 PM

-2 Boost

The losers are the laggard companies, and we certainly don't need to help the German EV's coming over the next few years.

valhallakey - 11/3/2017 1:30:23 AM

-1 Boost

I think they should continue to incentivize low emission vehicles, perhaps in a graduated fashion. It should not be limited to EVs however, if they can make ICE engines that meet some standard criteria then they too should have an incentive attached.

LexSucks - 11/3/2017 1:15:33 PM

0 Boost

Yes, Give that money to the wealthy.