Inflation Reduction Act
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Stricter guidance means fewer EVs will qualify for $7,500 federal tax credit
The US Treasury Department issued updated guidance today about which electric vehicles qualify for the federal $7,500 EV tax credit under the Inflation Reduction Act (IRA) that President Biden signed last year. Although the new guidelines add more confusion than clarity, it’s evident that fewer EVs will be eligible.
Tesla raises Model Y pricing following federal tax credit change
As of Saturday, Tesla's US website listed the Long Range and Performance models at $54,990 and $57,990, respectively.
Tesla's five-seat Model Y and other EVs now qualify for the new $7,500 federal tax credit
More versions of Tesla's Model Y and four other EVs now qualify for the new $7,500 federal tax credit thanks to the Treasury.
President Biden signs Inflation Reduction Act to limit climate change
President Joe Biden has signed the Inflation Reduction Act of 2022.
Senate deal would revive EV tax credits for GM, Tesla and Toyota
Senators have struck a deal that would bring EV tax credits back to GM, Tesla and Toyota, while also offering credits for used EVs.
