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Eliminating Tax Credits for New and Used Electric Vehicle Purchases

The ELITE Vehicles Act proposes to completely eliminate federal tax credits currently available to citizens for purchasing new and used electric vehicles (EVs). If enacted, buyers will no longer be able to claim these tax deductions, significantly increasing the effective cost of EVs. Furthermore, the bill removes EV recharging property from the tax credit for alternative fuel refueling infrastructure, potentially impacting the cost of installing home charging stations.
Key points
Repeal of the tax credit for new clean vehicles (Internal Revenue Code Section 30D).
Repeal of the tax credit for previously-owned clean vehicles (Internal Revenue Code Section 25E).
Repeal of the tax credit for qualified commercial clean vehicles (Internal Revenue Code Section 45W).
Exclusion of electric vehicle recharging property from the alternative fuel vehicle refueling property credit (Internal Revenue Code Section 30C).
Changes apply to vehicles purchased or contracted for purchase 30 days after the Act's enactment.
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Additional Information
Print number: 118_S_4237
Sponsor: Sen. Barrasso, John [R-WY]
Process start date: 2024-05-02
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Source data: api.congress.gov
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OFFICIAL LEGAL TITLE

ELITE Vehicles Act

FREQUENTLY ASKED QUESTIONS

What is the official ID of this bill?

The official print number for this legislation is 118_S_4237.

Which chamber initiated this legislation?

This legislation was initiated in the Senate.

When did the legislative process begin?

The process officially started on 2024-05-02.

What are the main provisions?

Key points include:

  • Repeal of the tax credit for new clean vehicles (Internal Revenue Code Section 30D).
  • Repeal of the tax credit for previously-owned clean vehicles (Internal Revenue Code Section 25E).
  • Repeal of the tax credit for qualified commercial clean vehicles (Internal Revenue Code Section 45W).
  • Exclusion of electric vehicle recharging property from the alternative fuel vehicle refueling property credit (Internal Revenue Code Section 30C).
  • Changes apply to vehicles purchased or contracted for purchase 30 days after the Act's enactment.
What is the specific legal status?

The current status is Expired.

Where can I read the full text of this legislation?

The full official text is available at: View full text

Who is the primary sponsor?

The primary sponsor is Sen. Barrasso, John [R-WY].

What is the latest detailed status?

The latest detailed status is: Introduced in Senate

Is this summary verified?

Yes. This content was analyzed by AI and verified by the Lustra Judge System on 2025-12-26.

CATEGORIES

Taxes Transport Environment