The $7,500 EV tax credit is on Trump’s chopping block

Quick Summary:

Now, it seems President-elect Donald Trump’s transition team has made that a priority with plans to end the tax credit as part of broader tax reform legislation, Reuters reported citing two unnamed sources.

Republicans have long opposed the $7,500 federal tax credit for electric vehicles contained in the Inflation Reduction Act.

The best chance to remove the tax credit would be to include it in the tax reform package that is expected to go to Congress in the spring.

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Article Details

Author / Journalist: Kirsten Korosec

Category: Technology

Markets: United StatesChina

Topics: EVs Transportation Trump Elon Musk

Source Website Secure: Yes (HTTPS)

News Sentiment: Negative

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-11-14 @ 20:50:15 (10 hours ago)

News Timezone: GMT -5:00

News Source URL: techcrunch.com

Language: English

Article Length: 449 words

Reading Time: 3 minutes read

Sentences: 19 lines

Sentence Length: 24 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © TechCrunch

News ID: 23592503

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