Why the $7,500 EV Tax Credit May Be Tougher to Get Starting in March

📆 1/26/2023 11:00 AM
📰 NBCNewYork

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The Inflation Reduction Law extended the tax break through 2031, but changed some requirements to get the full $7,500 value of the 'clean vehicle credit' — here's what you should know

Consumers who are in the market for a new electric car, truck or SUV likely have a limited time within which they can more easily claim the tax break, experts said.

. That essentially means buyers only get the full benefit if they have an annual federal tax liability of at least $7,500. in North America starting in 2023. That share increases to 60% in 2024 and 2025, and grows gradually to 100% in 2029.

Write Comment

OH NO, better hurry up and buy a lemon fresh off the first wave

Good. Another subsidy for the wealthy that we don’t need.

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