EV tax credits could be back for popular brands and used EVs under proposed law:
in remarks about the bill that the qualifying factor for $7500 tax credit is"if those vehicles were made in America."
The bill also sets upper-income limits on who can get the credit. Anyone making more than $150,000 a year or a family that makes more than $300,000 would not be eligible. There will also be limits on how expensive a vehicle can be to qualify, with the upper price limit on vans, trucks, and SUVs now set at $80,000 MSRP while all other vehicles are limited to a price of $55,000.
As for the politics of the bill, given that the bill was revived through a deal with Majority Leader Chuck Schumer and Senator Joe Manchin , there's hope on Capitol Hill that the bill will pass with all 50 Democratic senators voting in favor, allowing Vice President Kamala Harris to vote to break the tie if all 50 Republicans vote against, as is expected. Schumer said last week that he would bring the IRA up for a vote this week.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
How Democrats' climate bill will make it more affordable to buy EVsThe new climate bill brokered by Sens. Chuck Schumer (D-NY) and Joe Manchin (D-WV) includes the restoration of a tax credit for electric vehicle makers that can be passed on to consumers.
Read more »
BMW recalls 83 iX and i4 EVs over battery fire concerns | EngadgetBMW is recalling 83 iX and i4 vehicles after investigating multiple battery fire incidents involving the two EVs..
Read more »
Our week with EVs: Recapping the diverse collection of electric cars we tested | AutoblogIt seems like there's a notable new electric car introduced each week, while one of our editors is inevitably plugging one into their homes at night.
Read more »
2022 Kia EV6 GT Is a Genuine Rival for High-Output EVsThe brawny, 577-hp EV crossover is set to undercut much posher alternatives—and it boasts a drift mode.
Read more »
Tesla's Giga Shanghai Cranking Out EVs And Packing Pier Parking LotsWe recently showed you Tesla's massive stockpile of mostly Model 3 exports. They're gone now, and Tesla China is already teeming with Model Ys for export.
Read more »
Why Women Are Slow To Embrace EVsThis article reviews the different reasons why women are slow to embrace EVs and why that hesitancy is slowly changing.
Read more »