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2023 tax credits for EVs: How they’ll work and who can get them
Politics

2023 tax credits for EVs: How they’ll work and who can get them

Starting January 1, many Americans will qualify for a tax credit of up to $7,500 for buying an electric vehicle. The credit, part of changes enacted in the Inflation Reduction Act, is designed to spur EV sales and reduce greenhouse emissions.But a complex web of requirements, including where vehicles and batteries must be manufactured to qualify, is casting doubt on whether anyone can receive the full $7,500 credit next year.For at least the first two months of 2023, though, the full credit will likely be available to consumers who meet certain income and price limits. That's thank to a delay in the Treasury Department's rules for the tax breaks. The new law also provides a smaller credit for people who buy a used EV. ...