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Tax Credits

EV Tax Credit Renewal Looks Unlikely

An Obama era tax credit for buyers and lessees of new electric vehicles will not likely be extended as part of a new federal spending bill, Reuters reports.

New Bill Aims to Expand EV Tax Credit

New legislation to raise the electric vehicle sales cap for automakers from 200,000 to 400,000 cumulative sales was proposed by a group of bipartisan lawmakers.

IRS Confirms GM's EV Tax Phaseout

General Motors has sold more than 200,000 plug-in electrified vehicles, which will trigger a phase-out of a federal tax credit for purchasers of $7,500, the Internal Revenue Service has announced.

GM Begins Losing Federal EV Tax Credit

General Motors reached the threshold of 200,000 plug-in electric vehicles sold in December, which begins a phase-out of the $7,500 federal tax credit over the next 15 months, Reuters reported.

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