Federal EV Tax Credits Are Almost Dead

Soon, Congress will move to eliminate the federal EV tax credits as part of a new tax and budget proposal. This could shockingly mean electric car shoppers would not longer have their neighbors, friends, family members, and others help finance their purchase, which is of course outrageous.  

Caught on camera: Cybertruck drives through Texas lake.

According to multiple reports, the way the bill in the Senate is written now, 180 days after it’s signed by President Trump the EV tax credits will be gone, maybe forever. The $4,000 tax credit for buying a used EV would be done away with 90 days after the signing.

Even worse, the tax credit for leasing EVs that are made outside North America would be eliminated immediately. But even those electric cars that meet all the requirements for where it’s made, etc. will see the tax credit gone in 180 days.

The version of the bill that’s in the House would extend the EV tax credits through the end of 2025. It would also allow automakers which haven’t sold 200,000 electric cars to keep using the credits through the end of 2026.

So-called “green” energy credits for solar and wind power generation would also be slashed or done away with completely.

This news of course has the “green” crowd up in arms. One of the hallmarks of the movement, aside from using government to force people to adhere to its dogmas, is to use the government to make everyone finance their pet projects.

They’re quick to point out oil and gas companies get government incentives as well. That’s true and we’d love to see those and all government incentives eliminated. Why all these large corporations need money from middle class families is a mystery and it smells rotten.

So we say good riddance to federal EV tax credits.

Image via LVMPD