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US Senator Wants To Kill Off $7 500 EV Tax Credit

Oct. 14, 2018 10:40 AM ET by Jared Rosenholtz Government / 32 Comments Oh great, another politician wants to hurt EV sales. Traditional gasoline-powered cars are still, generally speaking, considerably cheaper than EVs. In order to incentivize people to buy EVs, the government offers a tax credit of up to $7,500. Last year, President Trump and Republicans wanted to revoke the tax credit, causing EVs to become even more expensive. Fortunately, the US government voted to keep the tax credit, which has been in place since 2009. Now Hybrid Cars reports that the tax credit is in danger once again. Tesla Republican Senator John Barrasso of Wyoming has just introduced a bill, which would kill of the EV tax credit. Not only would this make the cars more expensive to buy, but Barrasso has plans to make them more expensive to own as well. EVs are exempt from the gas tax, which is used to fund infrastructure improvements. Barrasso's bill would add a "Federal Highway user fee for alternative fuel vehicles," which would charge EV drivers a fee to use public highways. The full text of the bill isn't available yet but the basic intentions would not be beneficial for EV owners. Chevrolet Chevrolet The $7,500 tax credit is already set to run out for automakers like Tesla, who have surpassed the cap of 200,000 vehicles. Surprisingly, a second bill to extend the tax credit is also circulating in Congress but it only has 17 co-sponsors (all of whom are Democrats). It seems as though neither of these bills will reach a vote anytime soon, so the tax credit will likely remain as-is, at least for now. Hopefully, the government can decide once again to keep the credit in place. Source Credits: hybridcars

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Tesla Model 3 Chevrolet Bolt EV Nissan Leaf Jared Rosenholtz Editor-at-Large After graduating with an MBA, Jared pursued his love of cars by becoming an automotive journalist. An internship with CarBuzz grew into his current position as Editor At Large. Jared now spends most of his time evaluating new vehicles and chasing the latest news stories in the automotive industry. When he’s not attending Cars & Coffee events on the weekend, Jared loves to watch NFL football and cruise around with the top down in his German convertible. Contact Jared @Carsnbites @jar_rosenholtz LoginSign Up Home News Features Car Reviews Car Advice 2021 CarBuzz Awards New Cars Used Cars Future Cars Compare Cars Sell My Car Car Dealerships Buy Here Pay Here Used Car Reviews Popular Tags Cars # Video # TOP # Spy Shots # Reveal # Rumor # Auto Show # Supercar # Tuning # Car Culture # Industry News # Motorsport Acura Alfa Romeo Aston Martin Audi Bentley BMW Bollinger Bugatti Buick Cadillac Caterham Chevrolet Chrysler Dodge Ferrari Fiat Fisker Ford Genesis GMC Hennessey Honda Hyundai Infiniti Jaguar Jeep Karma Kia Koenigsegg Lamborghini Land Rover Lexus Lincoln Lordstown Lotus Lucid Motors Maserati Mazda McLaren Mercedes-Benz Mini Mitsubishi Nissan Pagani Polestar Porsche Ram Rimac Rivian Rolls-Royce Spyker Subaru Tesla Toyota Volkswagen Volvo By Make Acura Alfa Romeo Aston Martin Audi Bentley BMW Bollinger Bugatti Buick Cadillac Caterham Chevrolet Chrysler Dodge Ferrari Fiat Fisker Ford Genesis GMC Hennessey Honda Hyundai Infiniti Jaguar Jeep Karma Kia Koenigsegg Lamborghini Land Rover Lexus Lincoln Lordstown Lotus Lucid Motors Maserati Mazda McLaren Mercedes-Benz Mini Mitsubishi Nissan Pagani Polestar Porsche Ram Rimac Rivian Rolls-Royce Spyker Subaru Tesla Toyota Volkswagen Volvo By Car Type SUVs Crossovers Sedans Coupes Trucks Sports Cars Wagons Vans Hatchbacks Convertibles Small Cars Luxury Cars Electric Cars Hybrid Cars Future Cars By Price Up to $15K $15K - $25K $25K - $35K $35K - $45K $45K - $55K $55K - $75K $75K - $100K $100K - $200K $200K - $300K Above $300K Back To Top