 proponents and alternative energy enthusiasts can breathe a sigh of relief at […] "'Pin It")
Electric Car Tax Credit – Update
Photo: Pixaline
Earlier this week, GM’s Mary Barra joined the industry in lobbying the government to maintain the proposed elimination of the electric car tax credit. This topic is especially pertinent to many mainstream manufacturers whose future product lineups include electric models.
Now, electric vehicle (EV) proponents and alternative energy enthusiasts can breathe a sigh of relief at some news that indicates a positive potential outcome. Per Bloomberg, an anonymous Republican with insider knowledge has confirmed that both the House and Senate negotiators have settled on a compromise package that will leave the electric car tax credit intact.
Photo: Martin Falbisoner
Currently, the tax credit (first established as part of a 2009 stimulus bill), applied to an automaker’s first 200,000 qualifying vehicles sold during a given year. Although major OEMs including GM, Tesla, and Nissan have yet to reach that cut-off limit to receive the tax credit, they are definitely getting close to it. Other OEMs following in their wake (such as Hyundai, VW, Audi, and Daimler) have a ways to go before they reach the 200,000 cap. So, this provision of the tax credit will likely need to be revisited in the next few years, as electric vehicles gain in popularity and circulation.
Although Congress has yet to vote on the legislation that will finalize the retention of the electric car tax credit provision, they are expected to do so within the next few weeks. Stay posted for more details about this exciting development that promises to help promote EV sales in 2018 and beyond.
News Sources: GM Authority, Bloomberg, Electrek
Whitney Russell resides in Dayton, though her spirit can be found beach-bumming in Puerto Rico (the land of her half-Puerto Rican heritage). When not crafting car-related content, she can be found chasing after the most amazing toddler in the world, watching her “beaver” of a husband build amazing woodworking projects, hanging out with two crazy dogs, and visiting family and friends. She also enjoys traveling, crafting, and binge-watching period dramas when time allows. See more articles by Whitney.