The Democrats unleashed another part of their green dream with a “tax credit” to buy electric vehicles. But there is a big problem with this “benefit.” The rules for this wonderful new tax credit don’t apply to most new electric vehicles.
In the end, this $7,500 new tax credit to buy a new electric vehicle is practically useless.
The Associated Press explains:
But the auto industry is warning that the vast majority of EV purchases won’t qualify for a tax credit that large.
That’s mainly because of the bill’s requirement that, to qualify for the credit, an electric vehicle must contain a battery built in North America with minerals mined or recycled on the continent.
And those rules become more stringent over time — to the point where, in a few years, it’s possible that no EVs would qualify for the tax credit, says John Bozzella, CEO of the Alliance of Automotive Innovation, a key industry trade group. As of now, the alliance estimates that about 50 of the 72 electric, hydrogen or plug-in hybrid models that are sold in the United States wouldn’t meet the requirements.
“The $7,500 credit might exist on paper,” Bozzella said in a statement, “but no vehicles will qualify for this purchase over the next few years.”
Another absolute fraud perpetrated by the Democrat Party.