Here’s why most electric vehicles won’t qualify for $7,500 federal tax credit

Here’s why most electric vehicles won’t qualify for $7,500 federal tax credit

By TOM KRISHER | AP Auto Writer
DETROIT — A tax credit of up to $7,500 could be used to defray the cost of an electric vehicle under the Inflation Reduction Act now moving toward final approval in Congress.
But the auto industry is warning that the vast majority of EV purchases won’t qualify for a tax credit that large.
That’s mainly because of the bill’s requirement that, to qualify for the…

View On WordPress