Tax Credits and Fees for Vehicle Energy Performance.
This law establishes a new system of financial incentives and penalties aimed at promoting the purchase of highly fuel-efficient cars. Citizens buying new, high-performance vehicles (Model Year 2026 and later) may receive a refundable tax credit up to $5,000, which can be transferred to the dealer for an immediate price reduction. Conversely, manufacturers of less efficient vehicles (Model Year 2028 and later) will face fees, potentially increasing the market price of those cars.
Key points
Tax rebate up to $5,000 for purchasing new passenger cars and light trucks with above-average fuel efficiency (starting Model Year 2026).
The tax credit can be immediately transferred to the dealer to reduce the vehicle's purchase price.
Introduction of fees for manufacturers selling vehicles with low energy performance (below the market median) starting Model Year 2028.
New labeling requirements for dual-fueled vehicles (like plug-in hybrids) to provide clearer information on real-world fuel consumption.
Status:
Expired
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