• Senator Manchin aims to close battery loophole around the $7,500 EV tax credit

    12 days ago - By Engadget

    Senator Joe Manchin, chairman of the Senate Energy and Natural Resources Committee, has introduced a new bill that squashes a small loophole around the Inflation Reduction Act's $7,500 EV tax credit. The new credits are restricted to cars with final assembly in the US, as well as those with a certain amount of North American battery content. But , the U.S. Treasury has delayed its final rules on battery guidance until March , which means EVs with foreign batteries can still receive the full $7,500 in credits until then. Manchin's legislation, dubbed the American Vehicle Security Act...
    Read more ...

     

  • Electric Car Buyers In 2023 May Have To Pay Back Their US $7,500 Tax Credit

    Electric Car Buyers In 2023 May Have To Pay Back Their US $7,500 Tax Credit

    12 days ago - By SlashGear

    Legislature proposed by the U.S. Senate may force EV buyers in 2023 to pay back the highly beneficial $7,500 tax credit on newly purchased electric vehicles.
    Read more ...