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The House of Representatives released an early draft of a bill to remake the taxation system, one that would kill the federal tax credit that gives up to $7,500 to anyone who buys an electric car. Automakers are preparing more electric vehicles to get ahead of the competition, and EV sales mandates in some states only add to the pressure. Federal tax credits, as well as state incentives, have helped counteract high sticker prices typically seen with electric vehicles.
“There is no question that the elimination of the federal electric vehicle tax credit will impact the choices of prospective buyers and make the electric vehicle mandate in 10 states — about a third of the market — even more difficult to meet,” said Bergquist, according to a report from Automotive News. However, supporters of the repeal argue EV buyers can do without incentives since they tend to be wealthier than average consumers.
“There is no question that the elimination of the federal electric vehicle tax credit will impact the choices of prospective buyers and make the electric vehicle mandate in 10 states — about a third of the market — even more difficult to meet,” said Bergquist, according to a report from Automotive News. However, supporters of the repeal argue EV buyers can do without incentives since they tend to be wealthier than average consumers.