08 Nov '17, 4am

GOP Tax Bill Threatens Electric Car Tax Credit #Electricvehicles

Chevrolet Bolt models on a dealership lot in San Leandro, Calif. The House GOP tax reform bill released last week proposes to wipe out the federal tax credit for electric-vehicle purchases. The credit is worth up to $7,500 for consumers who buy cars that run on battery power and produce little to no tailpipe emissions. If the bill passes, the credit will apply to electric or plug-in hybrid vehicles purchased through the end of 2017—but not beyond that time. A change in the availability of the tax credit could complicate how manufacturers set EV pricing—to preserve the desirability of electric cars while managing the current price difference between battery-powered vehicles and internal combustion cars. The short-term impact could be increased sales from consumers wanting to purchase an electric car while the tax credit is in effect. The tax credit was intended as a short-t...

Full article: http://www.plugincars.com/gop-tax-bill-threatens-electric...

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