Bill > HR4817

This bill, the Affordable EVs for Working Families Act, aims to amend the Internal Revenue Code to provide a tax credit for the purchase of previously-owned qualified plug-in electric drive motor vehicles. The key provisions include: 1. A credit of up to $2,500 for the purchase of a previously-owned qualified plug-in electric vehicle, with the credit amount based on the battery capacity of the vehicle. 2. Limitations on the credit, including a cap of 30% of the vehicle's sale price and a phaseout of the credit for taxpayers with higher adjusted gross incomes. 3. Definitions of a "previously-owned qualified plug-in electric drive motor vehicle" and a "qualified buyer" who can claim the credit. 4. Requirements for the seller to provide a certificate to the buyer with information about the vehicle, and for the buyer to include the vehicle identification number on their tax return. 5. Conforming amendments to the Internal Revenue Code to incorporate the new tax credit. The purpose of the bill is to make previously-owned electric vehicles more affordable for working families, by providing a tax credit to offset the cost of these vehicles.

Budget and Finance

https://www.congress.gov/bill/117th-congress/house-bill/4817/all-info