The federal government has issued over $1 billion in tax credits for new and used clean vehicles since January
Americans have claimed more than $1 billion in upfront clean vehicle tax credits. The funds have helped consumers to purchase more than 150,000 electric, fuel cell , or plug-in hybrid vehicles. More than 90% of new car buyers opt for the upfront credit. If you’ve paid your taxes, pat yourself on the back as you’ve helped someone buy an electric vehicle. A lot of people actually as the U.S.
More: New EV Tax Credit Changes Could Make More Vehicles Eligible While consumers are turning on EVs, the government is looking through rose colored glasses and noted around 1.5 million electric, fuel cell, or plug-in hybrid vehicles were sold in the United States last year. The Treasury says that’s the “highest annual total ever” and a “50 percent year-over-year increase from 2022.
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