Automakers like Tesla and General Motors would regain the ability to offer federal tax credits to customers who buy their electric vehicles, under a new green energy bill agreed to by Democratic Sens. Chuck Schumer and Joe Manchin.
Hurdles to the bill's passage remain, but if it becomes law it could cut the price of electric cars for many Americans, which are relatively more expensive than gasoline vehicles, by reviving tax credits for some manufacturers' vehicles and introducing a new one as well.
They can have taxable income of no more than $300,000 annually for those filing jointly, or $150,000 for those filing as individuals.Also, there are price caps on the vehicles that will qualify. For plug-in trucks, vans and SUVs, the manufacturer's suggested retail price must be no more than $80,000; for all other types of vehicles, like sedans and sports cars, the price limit would be $55,000.
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