Republicans in the U.S. House and Senate have yet to reveal the final details of their new tax bill, but some Republicans have reportedly revealed that the $7,500 electric vehicle tax credit will survive. The House tax bill eliminated the EV credit, but the Senate bill does not and that part of the bill will reportedly be used for the compromised new tax bill.
Bloomberg is reporting, “House and Senate negotiators have agreed to spare the electric-vehicle tax credit and wind production tax credit in their compromise package, according to a Republican familiar with process.”
The final tax bill has yet to receive the official vote, but that is expected to happen this month.
This is good news for electric car buyers, since no automaker has reach the 200,000 vehicle cap yet. Tesla is expected to hit the cap first.