Repealing EV Tax Credits and Establishing New Credit for US-Made Gas/Diesel Cars.
This legislation eliminates existing tax credits for purchasing new and used electric vehicles and for installing alternative fuel refueling property. Instead, it establishes the "America First Vehicle Credit," a new tax incentive for consumers buying new gasoline or diesel vehicles that are manufactured and finally assembled in the United States, provided they meet strict domestic content and high-wage labor requirements. The goal is to shift federal support towards domestic manufacturing of traditional combustion engine vehicles.
Key points
Elimination of tax credits for new and used electric vehicles and charging infrastructure, potentially increasing the cost of EV adoption for consumers.
Introduction of a new tax credit (up to $5,000) for purchasing new gasoline or diesel vehicles assembled in the US, contingent on high domestic content and labor value.
The new credit is subject to income limitations for buyers and maximum Manufacturer's Suggested Retail Price (MSRP) caps ($80,000 for trucks/SUVs, $55,000 for others).
Status:
Expired
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