SB3016: End Taxpayer Subsidies for Electric Vehicles Act
- 1Introduced (current step)
- 2Passed One Chamber
- 3Passed Both Chambers
- 4Became Law
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Bill information
Summary
A bill to amend the Internal Revenue Code of 1986 to repeal the clean vehicle credit.
Plain-language summary
This bill would repeal the clean vehicle credit, which is a tax break that reduces the amount of taxes people owe when they buy electric vehicles. Currently, people can deduct up to $7,500 from their taxes for purchasing qualifying electric cars. The bill was introduced by Senator Rand Paul and aims to eliminate this tax incentive entirely. The bill is currently in the early stage of the legislative process after being introduced.
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SB3016: End Taxpayer Subsidies for Electric Vehicles Act