The House Ways and Means Committee and the Senate Finance Committee have released proposals to revamp the federal EV tax credit program. The two proposals will be reconciled, and the final version is expected to be included in the pending reconciliation package. The Zero Emission Transportation Association has published a detailed description of the two,… Read more »
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Clean Energy for America bill, including $12,500 EV tax credit, advances in Senate
A bill called Clean Energy for America advanced in the US Senate Finance Committee on a 14-14 tie vote. The bill, which contains a number of measures designed to incentivize clean energy, clean transportation and energy efficiency, must now be approved by the full Senate and the House of Representatives in order to become law…. Read more »
Proposed legislation would restore federal EV tax credit to GM and Tesla
Democrats in the House of Representatives have reintroduced the GREEN Act (Growing Renewable Energy and Efficiency Now), which among many other tax code revisions would once again allow Tesla and GM customers to claim federal EV tax credits. A similar bill failed to pass in 2020, but the prospects for passage seem bright under the… Read more »
New front in the war against EVs: ferreting out erroneous tax credit claims
Governments often use selective law enforcement to blunt the effects of unwanted policies instituted by previous administrations. Is this what’s going on with an audit of federal EV tax credit claims? The Wall Street Journal reports that the Treasury Inspector General for Tax Administration (TIGTA), an arm of the Treasury Department and thus of the… Read more »
Republican senators introduce new bill to end EV tax credit and impose new annual EV tax
Belying their party’s professed anti-tax leanings, Republican senators have introduced a bill to kill the federal tax credit for EV purchases, and impose a new annual tax on EV owners. Senators John Barrasso (R-Wyoming), Pat Roberts (R-Kansas) and Mike Enzi (R-Wyoming), have introduced a second bill to kill the tax credit (Senator Barrasso introduced a… Read more »
Keeping federal EV tax credit alive a tough sell for GM as it lays off workers and closes factories
General Motors is fighting to retain the $7,500 federal tax credit for plug-in vehicle purchases, but the company’s recently announced layoffs and plant closings may make it a tough sell in Washington. As GM nears the 200,000-vehicle cutoff point after which the tax credit will be phased out, the incentive’s very existence is uncertain. One… Read more »
Tesla, GM and Nissan advocate for extending the federal EV tax credit
The federal EV tax credit is something of a blunt instrument, but there’s little doubt that it has encouraged a substantial number of EV purchases. The future of the $7,500 tax credit is uncertain. Recently, one Republican senator introduced a bill to expand the credit, and another introduced a bill to get rid of it… Read more »
One Republican Senator wants to extend federal EV tax credit, another wants to end it
Support for EVs on Capitol Hill does not divide neatly along partisan lines, as a pair of dueling bills in the Senate illustrates. This week, Senator Dean Heller (R-Nevada) proposed legislation that would lift the current cap on EV tax credits. Under current law, once a particular automaker sells 200,000 EVs, the tax credit will… Read more »
Tesla could maximize federal tax credits for its customers, but at what cost?
Some of Tesla’s customers could soon be victims of the company’s success. The $7,500 federal tax credit for EV purchases is designed to sunset when a particular automaker sells over 200,000 EVs, and Tesla is nearing that bittersweet milestone. Ironically, thousands of affluent buyers of Models S and X received the credit, while most future… Read more »
GM CEO Mary Barra: Congress should expand the federal EV tax credit
Mary Barra says GM plans to boost production of its Chevrolet Bolt in response to strong demand, and called on Congress to expand the federal EV tax credit. “We feel tax credits should be expanded so our customers continue to receive the benefit going forward,” Barra told an energy conference in Houston. “We believe in… Read more »