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81% of EVs Sold in 2023 Still Qualify for the Federal EV Tax Credit

EV Life

The Inflation Reduction Act of 2022 (IRA) introduced new guidelines for a federal EV tax credit aimed at helping qualified drivers purchase an electric vehicle. The tax credit is part of a broader plan to make 50% of new vehicles sold in the United States hybrids or plug-ins by 2030. What are the New Changes to the Federal Tax Credit?

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The Best Electric SUVs on the Market

EV Life

The Model Y qualifies for the full $7,500 federal EV tax credit. At the moment, the Mach-E only qualifies for half of the federal EV tax credit, providing eligible drivers a credit of up to $3,750. The Chevy Bolt EUV also qualifies for the full $7,500 federal EV tax credit. The other upside? Volkswagen ID.4

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President Biden signs Inflation Reduction Act, cut EV tax incentives

Teslarati

President Joe Biden will sign the Inflation Reduction Act today, and the act will cut EV tax incentives with it. According to manufacturers, roughly 70% of electric, PHEV, and fuel cell electric vehicles are no longer eligible for incentives. Top-of-the-line Ford F-150 Lightnings will also no longer be eligible.

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