Bill > S1229

This bill seeks to completely eliminate the existing federal tax credit for electric vehicles by repealing Section 30D of the Internal Revenue Code, which provides financial incentives for purchasing electric vehicles. The bill would remove all references to the clean vehicle credit across multiple sections of the tax code, effectively ending taxpayer subsidies for electric vehicle purchases. By striking this section, the legislation would prevent any new electric vehicles from receiving tax credits after the date of enactment, meaning consumers would no longer be able to claim a tax credit when buying an electric vehicle. The bill includes several technical amendments to other sections of the tax code to ensure the complete removal of the electric vehicle tax credit, such as modifying sections related to tax calculations, deductions, and reporting requirements. These changes would apply to any vehicles placed in service in calendar years following the bill's enactment, representing a comprehensive approach to eliminating government financial support for electric vehicle purchases.

Budget and Finance

https://www.congress.gov/bill/119th-congress/senate-bill/1229/all-info