More than $2 billion worth of tax credits have been provided to buyers of electric vehicles this year in the US, most of which were cashed in at the time of purchase. While credits are great news for consumers, newly released figures do show just how much it costs the federal government and taxpayers.
Data from the U.S. Department of the Treasury and the IRS reveals that tax credits of up to $7,500 have been provided to more than 250,000 new electric vehicles since January 1, while a further 50,000 used vehicles eligible for rebates of up to $4,000 have been sold.
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