Senate committee moves to raise EV tax credit to as much as $12,500
The step championed by Democrat Senator Debbie Stabenow would phase out the credit program over three years as soon as half of all US passenger vehicles are electrical. It would likewise provide a 30 percent credit to producers reworking facilities to make energy tech like batteries. There would be additional clean energy tax breaks and drop existing tax steps implied to support fossil fuels. This might speed up the transition to EVs in the United States given that GM and Tesla have currently run into the present manufacturing cap.
The step championed by Democrat Senator Debbie Stabenow would phase out the credit program over 3 years when half of all United States passenger cars are electric. It would also provide a 30 percent credit to producers reworking facilities to make energy tech like batteries. There would be extra clean energy tax breaks and drop existing tax procedures implied to support fossil fuels.