US lawmakers begin push to expand federal electric vehicle tax credits

CNBC | 4/11/2019 | Robert Ferris
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A bipartisan group of lawmakers plans to introduce a bill to expand federal tax credits for buyers of electric vehicles, in what could be a boon for the growing EV market.

The existing $7,500 tax credit for buyers of EVs phases out over 15 months once an automaker sells 200,000 electric cars. The tax credit for Tesla buyers was halved to $3,750 on Jan. 1; General Motor's tax credit was likewise cut in half starting April 1.

Bill - Driving - America - Forward - Act

The bill, dubbed the Driving America Forward Act, would grant each automaker a $7,000 tax credit for an additional 400,000 vehicles after it exhausts the first 200,000 vehicles eligible for tax credits. It would shorten...
(Excerpt) Read more at: CNBC
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