Submission + - SPAM: No EV Tax Credit If You Earn More Than $100,000 Says US Senate
Perhaps more significantly, Sen. Fischer's amendment also restricts the tax credit to EVs that cost less than $40,000. Consequently, the only battery EVs that will still be eligible for the tax credit will be the Hyundai Ioniq Electric ($34,250), Hyundai Kona EV ($38,565), Mini Cooper SE ($30,750), and the Nissan Leaf S Plus ($39,220). Chevrolet's Bolt EV and Bolt EUV are both below the price threshold, but in 2019 the automaker sold its 200,000th plug-in vehicle, at which point the tax credit began to phase out. The amendment passed, 51-48. Senator Fischer took to Twitter to say that "everyday Americans are living paycheck to paycheck because of the sharp rise in costs due to #Bideninflation. We shouldn't be subsidizing luxury vehicles for the rich using money from hard-working taxpayers." (Inflation is mostly being driven by high prices for used cars, which in turn is a result of the chip shortage.)
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