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Tax Credits Survive Contentious Battle over Debt Ceiling

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You can count on tax incentives for all-electric commercial trucks and vans and used PHEVs and fuel-cell vehicles.

The bottom-line impact for an anxious auto industry:tax credits of the Inflation Reduction Act which had been removed in an earlier House bill, HR 2811, are back on.

“Conservative Republicans and progressive Democrats have both been quick to voice concerns with certain aspects of the deal,”Treasury Secretary Janet Yellen revised her warning of federal debt default by four days, to June 5. That’s still very close.

 

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