End Taxpayer Subsidies for Electric Vehicles Act
This bill eliminates the tax credit for the purchase of a qualified new clean vehicle.
Under current law, a nonrefundable tax credit of up to $7,500 is allowed for the purchase of a vehicle that
- is acquired new and for use by the taxpayer;
- is made by a qualified manufacturer;
- weighs less than 14,000 pounds;
- is manufactured primarily for use on public streets, roads, and highways;
- is powered significantly by an electric motor with a battery capacity of seven kilowatt hours or more;
- is capable of being recharged from an external source of electricity; and
- has final assembly occurring within North America.