Most electric vehicles won’t qualify for federal tax credit

Summary by Ground News

The Senate passed the Inflation Reduction Act over the weekend which covered the electric vehicle tax credit as part of the nearly $400B over 10 years in funding for climate and energy related programs. A striking new requirement is that qualifying cars must be assembled in North America and that materials and critical minerals in the battery must come from the US or a country with a free trade agreement with the US.

2 months ago·Washington, United States

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USA Today

Automakers group says most electric vehicles won't quality for tax credit in Senate bill

An automotive group representing car makers including Ford and Toyota said most EVs will be ineligible for a tax credit proposed in a new Senate bill.

2 months ago·United States

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abc News

Most electric vehicles won't qualify for federal tax credit

A tax credit of up to $7,500 could be used to defray the cost of an electric vehicle under the Inflation Reduction Act now moving toward final approval in Congress

2 months ago·United States

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Washington Times

Most electric vehicles won’t qualify for federal tax credit

A tax credit of up to $7,500 could be used to defray the cost of an electric vehicle under the Inflation Reduction Act now moving toward final approval in Congress.

2 months ago·Washington, United States

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Associated Press News

Most electric vehicles won't qualify for federal tax credit

A tax credit of up to $7,500 could be used to defray the cost of an electric vehicle under the Inflation Reduction Act now moving toward final approval in Congress.

2 months ago·United States

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The Hill

Most electric vehicles won’t qualify for federal tax credit

DETROIT (AP) — A tax credit of up to $7,500 could be used to defray the cost of an electric vehicle under the Inflation Reduction Act now moving toward final approval in Congress. But the auto indu…

2 months ago·Washington, United States

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KVIA

Most electric vehicles won't qualify for federal tax credit

By TOM KRISHER AP Auto WriterDETROIT (AP) — A tax credit of up to $7,500 could be used to defray the cost of an electric vehicle under the Inflation Reduction Act now moving toward final approval in Congress. But the auto industry is warning that the vast majority of EV purchases won’t qualify for a tax credit that large.That’s mainly because of the bill’s requirement that, to qualify for the credit, an electric vehicle must contain a battery bu…

2 months ago

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