tax credits

US EV Tax Credit Could Violate WTO Rules

The 2024 Chevrolet SS EV The 2024 Chevrolet SS EV on display in Warren, Mich., July 12, 2022. (Paul Sancya/Associated Press)

BRUSSELS — The European Union expressed concern Aug. 11 that a new U.S. tax credit plan aimed at encouraging Americans to buy electric vehicles would discriminate against European producers and break World Trade Organization rules.

August 11, 2022
Government, Business, Fuel

Most EVs Won’t Qualify for Federal Tax Credit

A Volkswagen Cooper electric vehicle A Volkswagen Cooper SE electric vehicle on the showroom floor of a Mini dealership in Highlands Ranch, Colo. (David Zalubowski/Associated Press)

DETROIT — A tax credit of up to $7,500 could be used to defray the cost of an electric vehicle under the Inflation Reduction Act now moving toward final approval in Congress. But the auto industry is warning that the vast majority of EV purchases won’t qualify for a tax credit that large.

Tom Krisher | Associated Press
August 9, 2022
Government, Business, Fuel

Automakers Seek Lifting of EV Tax Credit Cap

A 2021 Ford Mustang Mach E charges at a Ford dealer in Wexford, Pa. A 2021 Ford Mustang Mach E charges at a Ford dealer in Wexford, Pa. (Keith Srakocic/Associated Press)

NEW YORK — Major automakers are asking Congress to lift the cap on how many people would be offered tax credits if they buy a hybrid or fully electric vehicles.

June 13, 2022
Government, Business, Fuel, TCA

Bill to Boost EV Tax Credits to $12,500 Passes Senate Panel

The Ford F-150 Lightning on display in New York City An all-electric Ford F-150 Lightning on display in New York City. (Ann-Sophie Fjello-Jensen/AP Images for Ford Motor Company)

WASHINGTON — Legislation that would raise consumer tax credits for electric vehicles to $12,500 for the next five years passed a Senate committee May 26.

Riley Beggin | The Detroit News
May 28, 2021
Business

Trucking, Natural-Gas Industry Benefit from Congress’ Tax-Credit Legislation

Fleets that purchased new trucks or use natural gas could reap large tax credits thanks to a bill the Senate sent to President Obama.

December 22, 2014
Business

Industry Hopes Expired Tax Credits Are Renewed in Lame-Duck Session

Expired tax credits worth hundreds of millions of dollars to the trucking industry and fuel producers hang in the balance as Congress meets for a lame-duck session that could be contentious or productive.

November 17, 2014
Business

Panel Approves Bill Extending Tax Credits for New Trucks, Alternative-Fuel Producers

A bill that would extend tax credits for carriers buying new trucks and to those who produce biodiesel or supply trucks with natural gas has been approved by the Senate Finance Committee.

April 14, 2014