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Easier Electric Vehicle Tax Credits: More Time for Purchases

This act temporarily suspends the requirement for electric vehicles to be assembled in North America to qualify for tax credits. This means citizens will have more time to purchase electric vehicles manufactured outside North America while still benefiting from tax incentives. These changes aim to make electric vehicles more affordable, as indicated by the bill's title.
Key points
The North American final assembly requirement for electric vehicle tax credits is temporarily suspended until the end of 2025.
Deadlines for critical mineral and battery component sourcing requirements for full tax credits are extended by several years.
Citizens can benefit from tax credits on a wider range of electric vehicles, potentially lowering purchase costs.
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Additional Information
Print number: 117_HR_9289
Sponsor: Rep. Sewell, Terri A. [D-AL-7]
Process start date: 2022-11-10