The tax credit for electric vehicles proposed by the administration of President Biden has received a new modification this week that will benefit the acquisition of SUVs and trucks with this technology , according to reports Roadshow . Until a few months ago, discussions had led to the setting of some initial price limits that would serve as criteria for granting this incentive: $ 55, 03 for vans, $ 64, for SUVs and $ 74, 03 for vans. For some experts, these limits made the picture difficult as the market for electric vehicles remains one of the most expensive and many prices of SUVs and trucks exceed those limits.
The new modification, however, expands the limits and fixes them to just one: $ 80, 000 . In that sense, any person who wishes to acquire an SUV or a truck that has a price equal to or below that value may be eligible to obtain the benefits of this credit that could amount to $ 33, 500, following a recent increase of $ 5, 000 proposed this week .
The new reform is due to the Democrats of the House of Representatives, who made public the details related to the latest updates on these incentives that are part of Build Back Better, President Biden’s bipartisan plan to promote, among other things, the electrification of the United States and, therefore, the reduction of emissions. Unlike SUVs and trucks, to be eligible, electric sedans must meet the same starting price limit set for them thus far at $ 55, 000. Although the proposal is already made to bring the credit to $ 12, 500 —after setting it at $ 7, . in this regard and, furthermore, that Congress later approve all the proposals implicit in this plan.
Agree With the conditions that apply, the tax credit will only be granted to those people who buy electric vehicles built in the United States with union labor , a condition that has been widely criticized since it excludes to Tesla and General Motors, two major players in the industry that were also pioneers in the development of this technology in the country.
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