House introduced bill to phase out $7500 federal EV tax credits 👎

[Garbone]

Eh, got 2 of those "credits" like most things it depends on your tax liability or did on or before 22'. So lower income folks or those that actively can manage their liability do not get the full credit. I got roughly $4500 or so of the amount. Funny how the tax credit really only helps those that need it least IMO. On a side note it is the same with foreign earned income, if you pay taxes to a foriegn country on income (Canada for example) you can write it off the entire amount on your domestic tax bill lowering you liability. Crazy stuff....

 

[metroshot]

I got 2 EV credits in 2022 ($7500) and 2023 ($3750)..

Middle income, state government, W2 - so I guess I qualify.

Since I am retiring in a year when the Slate is coming out, if the tax credit was still available, I might not be able to capture the entire amount....

That's a bummer!