Proposed Law Seeks to Remove EV Tax Credit Limit on Manufacturers

August 3, 2022 10:19:32

Electric vehicles are too expensive for most consumers to purchase outright. As such, the U.S. government provided subsidies to EV buyers to make them more affordable and increase EV adoption. More specifically, EV buyers were eligible for up to $7,500 in incentives. After each automaker sold 200,000 vehicles with the incentives, subsequent units would not be eligible for the assistance. The automotive industry has asked the government to remove the 200,000 EV cap because it has the potential to significantly hinder EV adoption.

Democrats have now introduced legislation to eliminate the cap on EV incentives and extend the incentives through 2032. If the…

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