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Senate Gives Preliminary OK to EV Tax Credit Limit Amendment

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KEYWORDS ev senate subsidy tax

August 12, 2021—The U.S. Senate on Tuesday evening voted 51-48 in favor of limiting tax credits on EVs to certain customers and certain vehicles. 

The non-binding amendment to a proposed $3.5 trillion budget bill, introduced by Sen. Deb Fischer (R-Nebraska), would limit the credit to taxpayers currently making under $100,000 per year, according to a report from Ars Technica. The bill would also limit the credit to EVs that cost under $40,000. That would leave four models in the U.S. eligible -- The Hyundai Ioniq Electric, Hyundai Kona EV, Mini Cooper SE and Nissan Leaf S.

The credit is already limited to the first 200,000 plug-in electric vehicles an OEM produces.

Though it passed by a slim margin in the Senate, the amendment is "unlikely to be greeted warmly by the House of Representatives," per the report.

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