Increased Tax Credits for Clean Vehicles and Charging Stations
This act aims to make it easier to buy clean vehicles, both new and used, by increasing available tax credits. Additionally, it supports the development of charging infrastructure, which can lower transportation costs and increase access to eco-friendly options for citizens.
Key points
Increases the tax credit for new clean vehicles from $3,750 to $7,500.
Increases the tax credit for previously-owned clean vehicles from $4,000 to $8,000 or from 30% to 60% of the sale price.
Increases the tax credit for alternative fuel refueling property from 30% to 50% of the cost.
Lowers the income thresholds for eligibility for new clean vehicle credits, which may affect who can benefit.
Requires reports on the availability of various vehicle types and trends in purchase prices and ownership costs to better understand the automotive market.
Requires reports on critical minerals needed for hybrid and electric vehicle manufacturing to ensure stable supplies.
Requires identification of routes heavily used by high-gasoline-consuming vehicles and reports on electric vehicle charging station availability along those routes.
Status:
Expired
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