Democrats unveil new EV tax credit proposal with boost for unions

Washington — Democrats in Washington want to include a significant new incentive to buy electric vehicles in their $3.5 trillion social spending bill, according to a new plan revealed Friday by the House Ways and Means Committee. For five years, the legislation would implement $7,500 point-of-sale consumer rebates for electric […]

Washington — Democrats in Washington want to include a significant new incentive to buy electric vehicles in their $3.5 trillion social spending bill, according to a new plan revealed Friday by the House Ways and Means Committee.

For five years, the legislation would implement $7,500 point-of-sale consumer rebates for electric vehicles and pay out an additional $4,500 for vehicles assembled in a union facility. Another $500 would be awarded for vehicles using a battery manufactured in the U.S.

The Biden administration plans to announce new limits on greenhouse gas auto emissions and new electric vehicle sales targets at events in Washington and Detroit on Thursday.

For the next five years after that, the $7,500 base credit would only apply to electric vehicles made in the U.S., but the other two incentives would stay the same.

https://www.detroitnews.com/story/business/autos/2021/09/10/democrats-unveil-new-ev-tax-credit-proposal-boost-unions/8267723002/

Shaqil Heaton

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