U.S. Congress office sees few tax breaks for EVs under Democratic plan

By David Shepardson and Joseph White (Reuters) – A proposal by U.S. Senate Democrats to put income, price and domestic content conditions on electric vehicle tax breaks could initially sharply curtail the number of EVs that qualify, the Congressional Budget Office said on Wednesday. The CBO estimate said the electric vehicle tax credits in a $430 billion climate and energy bill would cost taxpayers only $85 million in 2023, the equivalent of about 11,000 vehicles if all received $7,500 credits. Automakers and their home states including Michigan are lobbying Senator Joe Manchin to revise propo…

Read More