Remove the $7500 Electric Vehicle Credit Expiration

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In the United States, if you buy an electric car then you can be eligible for receiving federal credit as a reward for contributing towards a cleaner environment.

Here is how the US electric vehicle Federal incentive program currently works:

Each independent automaker’s eligible plug-in vehicles receive a federal credit (up to $7,500) federal credit – until the 200,000th plug-in is registered inside the US, when a countdown for phaseout of the credit begins.

For example, the buyers of Nissan's first 200,000 electric cars would all receive a $7500 credit from the federal government. However, the buyers of the next cars made by Nissan would not receive this full credit. 

Changing the Federal incentive program by removing the limit on how many produced cars are eligible for this tax credit would motivate more people to buy electric cars and it would result in a cleaner environment. 

As many more automakers plan to put electric vehicles on the road, removing this credit limit would also help them by increasing their sales.

Refer to the following website to learn more about this policy and its effects: https://insideevs.com/us-federal-7500-ev-credit-expiry-date-by-automaker-estimates/



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