EV Tax Credits Are Changing: What’s Ahead
You may have heard that President Biden signed the Inflation Reduction Act on August 16. The massive $739 billion legislation, which passed along party-lines in the Democratic-led Senate and House, is designed to reduce the deficit and eventually inflation, by combating climate change, lowering healthcare costs, and increasing taxes on some large corporations. And the good news on the electric vehicle front is that the EV tax credit is a notable part of the new law’s focus on clean energy.
Some of the changes to the EV tax credit, which are designed to encourage the use of “clean” vehicles, might be seen by industry manufacturers as a mix of good and not-so-good news. And there are some questions about how the EV tax credit will work for the rest of
