Republicans introduce bill to eliminate EV tax credit
Sen. John Barrasso and 18 Republican colleagues are introducing a bill Thursday to repeal the entire electric vehicle tax credit in the Democrats’ climate law.
The legislation, first reported by POLITICO, would eliminate the credit of up to $7,500 for new EVs, the credit of up to $4,000 for used EVs, as well as the commercial clean vehicle credit that helps subsidize leased electric vehicles. It would also slash the investment tax credit for EV charging stations that was expanded by the Inflation Reduction Act.
The bill, S. 4237, is unlikely to advance in the Democratic-controlled Senate but puts the Biden administration on notice that the credit is at risk if the GOP wins control of Congress and the White House in November.
“The electric vehicle tax credit benefits the wealthiest of Americans and costs hardworking American taxpayers billions of dollars,” said Barrasso, ranking member of the Energy and Natural Resources Committee.
