Tax Credit for Electric Vehicles Could be Boosted by Congress
» Posted July 26, 2021 Resources | Share This Post
Tax credits for electric vehicle buyers could soon get a bump from federal lawmakers, good news for anyone shopping for a car and automakers General Motors and Tesla in particular.
The Senate Finance Committee recently approved a bill that would increase the amount of the tax credit for purchasing an electric vehicle from $7,500 to $12,500. It would also scrap a provision of a 2010 law that currently caps the credit at the first 200,000 electric vehicles sold per manufacturer.
That is good news for GM and Tesla because both manufacturers had already reached the caps. The measure would instead phase out the tax credit altogether over three years once at least 50 percent of the passenger vehicles sold in the U.S. are electric.
The legislation still faces a long road for clearing Congress and landing on President Joe Biden’s desk for signature. Texas Republican Sen. John Cornyn railed against the bill as “a frontal assault on my state."
“This is an ideological jihad against the status quo,” Cornyn told Reuters “where many jobs in our country depend on the oil and gas sector.”
Sen. Debbie Stabenow, a Michigan Democrat who is sponsoring the legislation, said the measure comes after a century of bills favoring oil and gas producers.
"We picked a winner and they won - 100 years ago," Stabenow told Reuters. "And now we're just trying to level the playing field."
Stuck with a Lemon? Here is How You Can Fight Back
While electric vehicles are increasingly hitting the road across the country and around the world, carmakers of all stripes continue to struggle to produce vehicles that are actually safe to drive.
Auto manufacturers recall millions of vehicles around the globe each year because of a broad range of defects that increase the risk of a crash.
The good news is that car owners and lessors in California have some rights and protections in the event they are stuck with a malfunctioning vehicle.
The California lemon law requires car manufacturers to perform a variety of repairs on cars while they are under warranty and to buy back or replace vehicles that the companies are unable or unwilling to fix.
Speak with a Los Angeles Lemon Law Attorney
If you are locked in a dispute with a car manufacturer over a malfunctioning vehicle, an experienced Los Angeles lemon law attorney at Bickel Sannipoli APC can help. A lawyer at our firm will explain your rights and help you explore your options for making sure that the manufacturer is held fully accountable.
We have helped people across the state fight back against defective vehicle manufacturers. Our lawyers understand the stress and frustration that can come with being sold a lemon. We work to resolve these matters efficiently and effectively, on the best possible terms for the people that we represent.
Our offices are conveniently located in Los Angeles, San Diego and San Francisco. Call us at (888) 800-1983 or contact us online to speak with a Los Angeles lemon law attorney today.