7500 Electric Car Tax Credit Renewed After 374 Billion Bill Passes Us Senate With Changes
The Inflation Reduction Act was approved by the US Senate by a single vote, with Vice President Kamala Harris acting as the tiebreaker. The tax credit no longer has a 200,000-car cap, which means Tesla, General Motors, and Toyota will be eligible again if and when it passes the US House. The bill also limits the price of the vehicles as well as the buyer’s earnings. Additionally, there is a new $4,000 credit for used electric vehicles....