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U.S. House Democrats propose EV tax credits of up to $12,500

House Ways and Means Committee Chairman Richard Neal, D-Mass., gathers members of his panel at the Capitol in Washington, Friday, September 10, 2021.   | Photo Credit: AP

U.S. Democratic lawmakerslate on September 10 proposed boosting tax credits for electric vehicles to up to $12,500 per vehicle for union-made zero emission models assembled in the United States.

Under a broad tax measure that is part of a planned $3.5 trillion spending bill, the House Ways and Means Committee on September 14 will vote on a measure that lifts the current cap on EV tax credits.

The bill would make General Motors Co and Tesla Inceligible again for EV tax credits after they previously hit a cap on the existing $7,500 incentive. It would also createa new smaller credit for used EVs.


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Printable version | Oct 26, 2021 3:12:08 PM | https://www.thehindu.com/news/international/us-house-democrats-propose-ev-tax-credits-of-up-to-12500/article36397170.ece

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