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EV Tax Credit: The Guide Your Car Dealer Doesn’t Want You To Read

EV Life

This article is for informational purposes only, and is not intended to provide tax, legal or accounting advice. You should consult your own tax, legal and accounting advisors before engaging in any transaction. As one might imagine, car dealerships are excited to share the $7500 tax credit to encourage you to buy a car.

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Proposed Changes to the Federal EV Tax Credit Passed by the House of Representatives

EV Adoption

For electric vehicles, the BBBA includes multiple proposed changes to IRC 30D, more commonly knows as the federal EV tax credit. Passage by the Senate is far from a certainty and will require all 50 yes votes including from conservative-leaning Democrat Senator Joe Manchin of West Virginia to the Independent Senator Bernie Sanders of Vermont.

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Gas War: U.S. House Suggests Ending California Emissions Authority, White House Says Nope

The Truth About Cars

We have a free market; therefore if Americans truly wanted to make the switch to electric vehicles, then they would buy them — no government interference necessary. The rules mandate that 35 percent of the new cars sold be plug-in hybrid electric (PHEV), EVs or hydrogen fuel cell by 2026.