Senate Considers Ending EV Tax Credits Sooner Than House Proposal

The Senate's version of the giant tax and spending bill may end tax credits for electric vehicle purchases earlier than the House version. The House bill set different end dates for the credits, while the Senate draft proposes a single termination date of Sept. 30th, just three months away. The bill is still being debated, with potential amendments and the need for reconciliation between the House and Senate versions.

EV advocates are disappointed with the Senate's draft, as it does not extend the EV tax credits. On the other hand, some groups, like the American Energy Alliance, support the rapid termination of these credits. Auto dealers are lobbying for a longer transition period to avoid market disruptions.

Senator Bernie Moreno criticized the tax credits, highlighting the example of a billionaire receiving a $7,500 check for leasing an expensive electric car. The Senate draft also includes cuts to tax credits for wind and solar projects and potential new taxes on renewable energy sources.

However, not all changes from the House version survived in the Senate draft. Some proposals, like a yearly fee on electric vehicles and a plan to eliminate EPA rules on tailpipe emissions, were not included.

According to the source: NPR.