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	<title>electric vehicle tax credit &#8211; EFR Technology Group</title>
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	<title>electric vehicle tax credit &#8211; EFR Technology Group</title>
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		<title>Trump&#8217;s 2020 budget proposal cuts the EV tax credit</title>
		<link>https://www.efrtechgroup.com/trump/trumps-2020-budget-proposal-cuts-the-ev-tax-credit/</link>
					<comments>https://www.efrtechgroup.com/trump/trumps-2020-budget-proposal-cuts-the-ev-tax-credit/#respond</comments>
		
		<dc:creator><![CDATA[Randall]]></dc:creator>
		<pubDate>Tue, 12 Mar 2019 00:31:00 +0000</pubDate>
				<category><![CDATA[budget]]></category>
		<category><![CDATA[congress]]></category>
		<category><![CDATA[electric vehicle]]></category>
		<category><![CDATA[electric vehicle tax credit]]></category>
		<category><![CDATA[ev]]></category>
		<category><![CDATA[gear]]></category>
		<category><![CDATA[Politics]]></category>
		<category><![CDATA[tax credit]]></category>
		<category><![CDATA[Tech]]></category>
		<category><![CDATA[Transportation]]></category>
		<category><![CDATA[Trump]]></category>
		<guid isPermaLink="false">https://www.efrtechgroup.com/trumps-2020-budget-proposal-cuts-the-ev-tax-credit/</guid>

					<description><![CDATA[[ad_1] Before you rush out to buy a plug-in car to score the incentive before it disappears, know that it&#8217;s unlikely the proposed budget will pass through Congress. With the House of Representatives currently ruled by a Democratic majority, any Trump proposal is likely to face stiff opposition. Automakers have been lobbying Congress to extend [&#8230;]]]></description>
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<p>Before you rush out to buy a plug-in car to score the incentive before it disappears, know that it&#8217;s unlikely the proposed budget will pass through Congress. With the House of Representatives currently ruled by a Democratic majority, any Trump proposal is likely to face stiff opposition. Automakers have been <a href="https://www.engadget.com/2018/11/14/tesla-gm-nissan-ev-tax-credits-coalition/">lobbying Congress</a> to <a href="https://www.engadget.com/2018/10/18/senate-considering-extending-ev-tax-credits/">extend the credit</a>, which currently ends after a company hits 200,000 vehicles sold. Democrats are expected to make an effort to keep the credit alive, though they&#8217;ll face challenges in doing so. Senator John Barrasso (R-WY), the chair of the Senate Environment and Public Works Committee, has proposed legislation to <a href="https://www.engadget.com/2017/11/02/us-government-may-take-away-ev-tax-credit/">end the tax credit</a>.</p>
<p>While the tax credit is likely to cost the government money, that&#8217;s in part because it has been successful in incentivizing the purchase of electric vehicles. A congressional report claims more than 57,000 taxpayers claimed an EV credit in 2016 and it&#8217;s expected that $7.5 billion in subsidies will be given out to EV buyers between 2018 and 2022. Two car makers, <a href="https://www.engadget.com/2018/10/12/tesla-tax-incentive-timeline/">Tesla</a> and <a href="https://www.engadget.com/2019/01/03/gm-ev-tax-credit-phase-out-report/">General Motors</a>, have already hit the 200,000 vehicle cap but are still eligible for smaller credits.</p>
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<p>[ad_2]<br />
<br /><a href="https://www.engadget.com/2019/03/11/trump-budget-2020-electric-vehicle-tax-credit/">Source link </a></p>
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