Congress may extend tax credits on new – and USED – electric vehicles


They’re out there in the wild

” Talks in the U.S. Congress over the weekend focused on the reinstatement of tax extenders that will not only benefit electric car manufacturers but those involved in biofuel and short-line railroad industries. If the Growing Renewable Energy and Efficiency Now (GREEN) Act gets the thumbs up, the cap for EV sales for manufacturers will be raised to 600,000 from 200,000 units and also reduce the tax credit from $7,500 to $7,000.

There will also be tax credits for the purchase of used electric vehicles with certain limitations such as the vehicle was used and registered in the U.S., will be sold for less than $25,000, tax credit can’t exceed 30 percent of the selling price, among others.

First, check your friendly neighborhood Congressperson for backbone. Second, hey, check around and see what deals are available in your neck of the prairie in secondhand electric cars. Might be worth it presuming there is sufficient gumption in DC.

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