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Senate Democratic deal includes new EV tax credits

Senate Democratic deal includes new EV tax credits

Reuters · 07/27/2022 20:49
Senate Democratic deal includes EV tax credits

- A Senate Democratic deal includes a $4,000 tax credit for used electric vehicles and tax credits and grants for automakers to retool factories to build greener cars.

The deal struck between Senate Majority Leader Chuck Schumer and Democratic Senator Joe Manchin also includes an expansion of the existing $7,500 EV tax credit as well as a $10 billion investment tax credit to build clean technology manufacturing facilities, according to a summary of the deal from Schumer's office.


(Reporting by David Shepardson; Editing by Sandra Maler)

((David.Shepardson@thomsonreuters.com; 2028988324;))