There is bipartisan legislation in Congress to extend the federal electric vehicle tax credit that needs the support of EV drivers and enthusiasts to pass. Please help further the cause by taking action through Plug In America to inform local legislators and ultimately gain more co-sponsors on the bill so that it has a greater likelihood of passing.
Currently, the tax credit gets phased out after an automaker sells 200,000 electric vehicles. This cap punishes early innovators in the market like Tesla, who is currently in the phase-out process and under current legislation would lose the credit entirely beginning next year.
Introduced today, the Driving America Forward Act would raise the cap to 600,000 electric vehicles per automaker meaning that Tesla could continue selling vehicles that are subsidized by a tax credit that would be adjusted to $7,000. (Automakers would still be able to offer a $7,500 tax credit until they hit the 200,000 electric vehicle cap, at which point it would be reduced to $7,000 for the next 400,000 electric vehicles sold.)
Considering the legislation has the support of both political parties as well as the automotive industry, this is more likely to pass than previous attempts to extend the tax credit. Regardless, it still needs your support to be successful.
Please take a minute to take action to help make this extension a reality.
As it stands now, the 200,000 electric vehicle cap gives an unfair advantage to automakers that are slow to innovate and punishes those that bring compelling electric vehicles to market. The new legislation would help Tesla remain competitive with other automakers that are still able to offer the full tax credit. An extension is important to sustain Tesla’s market dominance, and the end goal is to get as many people in electric vehicles which I’m sure we can all get on board with.
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