2 Lawmakers Propose Used EV Tax Credit Bill
August 2, 2021—Two democratic lawmakers have introduced a bill that would provide up to a $2,500 rebate to drivers who purchase a preowned EV.
Sen. Dianne Feinstein and Rep. Jimmy Gomez (both D-California) introduced on Thursday the the Affordable EVs for Working Families Act, according to a news release from Sen. Feinstein's office. The tax credit would apply to EVs that are at least two years old and cost less than $25,000; the credit would be phased down for buyers who adjusted gross income exceeds $75,000 for individuals and $150,000 for joint filers.
The bill, according to the release, would help low- and middle-income households to purchase EVs, which will help "ultimately save money and reduce emissions."
“This bill would help make electric cars affordable to a larger group of people and move us closer to a point where high-pollution gas-powered cars are off the roads," Sen. Feinstein said in the release. "We need more legislation like this to incentivize behavior that will reduce global warming, and I’m proud to sponsor this bill.”