Plug In America, a national nonprofit organization aimed at getting Americans to switch to plug-in vehicles, recently urged Congress to lift the federal tax credit cap on electric vehicles (EVs).
The $7,500 tax credit is given to new owners and lessees of EVs. It is capped at 200,000 EVs sold per automaker. Extending the credit would allow more owners to take advantage, Plug In America said.
“Tesla and Chevrolet will both hit their limit soon and others like Nissan are not far behind,” Joel Levin, Plug In America executive director, said. “We need to seize every opportunity we can to tell Congress to lift that cap now. This will ensure that more plug-in electric vehicles get into consumer hands faster and more affordably while creating good paying jobs for Americans and helping local economies.”
Plug In America is asking Congress to pass the Tax Extender Act of 2017, which would extend the credit for two additional years.
Buyers of 2 and 3 wheeled electric motorcycles would receive a 10 percent tax credit while the purchase of EV charging infrastructure for homes and businesses would receive a 30 percent tax credit.
The credits would be retroactive and would include purchases made after Dec. 31, 2016.