man driving a car wearing wrist watch

EV Buyers in US to Get Tax Credit Under Proposed Senate Deal

  • A newly proposed Senate deal would extend the consumer tax credit for many EVs sold in the US, including used cars. The tax credit would allow automakers to offer $7,500 back to customers, and buyers of used vehicles could get back $4,000.
  • If the bill passes, buyers could get a tax credit for purchasing electric vehicles even from automakers currently excluded from the existing deal, like GM, Tesla and Toyota.