Reported about 14 hours ago
House Republicans have introduced a plan to eliminate the electric vehicle (EV) tax credit and repeal fuel efficiency regulations as part of a tax reform initiative. The proposal would end a $7,500 credit for new vehicles and a $4,000 credit for used vehicles by the end of the year, although some automakers could retain benefits for an additional year. Critics warn this move could disadvantage U.S. manufacturers against international competitors, particularly in the EV sector. Further, the plan also seeks to terminate a loan program supporting advanced technology vehicle manufacturing.
Source: YAHOO