The $7,500 tax credit for buyers of electric vehicles was preserved in the final tax bill before Congress that Republicans negotiated last week. That’s good news for dealers with EVs in the lineup and for the automakers that manufacture them. Automakers have said the tax credit is essential for them to meet zero emission vehicle mandates from the California Air Resources Board (CARB). Twelve other states, including Maryland, also follow CARB rules. The House version of the tax bill cut the EV credit, but the Senate put it back in.
Republicans are desperate to pass this bill so they can have at least one major legislative accomplishment this year. The leadership has made several accommodations to ensure “yes” votes. At this writing, Republicans appear certain to have the votes to pass the bill.
Future Bulletins will include further analysis of the provisions of the tax bill that affect dealers.Download Bulletin PDF