U.S. Democrats' plan boosts EV tax credit eligibility to pricier trucks, SUVs
WASHINGTON, Nov 3 (Reuters) - U.S. House Democrats released a revised bill on Wednesday https://rules.house.gov/sites/democrats.rules.house.gov/files/BILLS-117HR5376RH-RCP117-18.xml that expands a proposed tax credit of up to $12,500 for electric vehicles to slightly pricier vehicles, while lowering income limits for eligible buyers.
The bill revises pricing for vehicles eligible for the credit: vans, sport utility vehicles and trucks up to $80,000 are eligible, while sedans remain at $55,000 as they were under the prior version.
The earlier version capped credits at $64,000 for vans, $69,000 for SUVs and $74,000 for pickup trucks.
The new proposal limits the full EV tax credit for individual taxpayers reporting adjusted gross incomes of $250,000 or $500,000 for joint filers, down from $400,000 for individual filers and $800,000 for joint filers. (Reporting by David Shepardson Editing by Chris Reese)
