The US is taking steps to simplify tax breaks for used electric vehicles

The US government has taken steps to make it easier to get tax breaks for used electric vehicles (EVs), the White House announced in a statement on Wednesday.

The White House said it has joined with the Treasury Department to host private sector leaders in used vehicle sales, as well as clean car advocates and state and federal officials, to discuss the use and adoption of the portability option. encourage dealers. US consumers can claim the tax credit at the point of sale.

“More than 13,000 dealers have already signed up to provide the point-of-sale tax credit, and 90% of EV buyers who qualify for the credit are choosing to receive their money immediately rather than waiting until tax season, saving buyers more than $850. million this year alone,” the statement said.

“The Inflation Reduction Act’s 25E Clean Vehicle Tax Credit provides up to a $4,000 rebate on qualified electric vehicles for taxpayers who fall under certain income limits – single taxpayers making less than $75,000 or up to $150,000 for married taxpayers filing jointly ,” it added.

The White House noted that most Americans buy used cars instead of new ones, so this tax credit makes electric driving more affordable and accessible.

It said that at Wednesday’s meeting, companies made major and voluntary commitments to increase the use of the credit and integrate the credit into their websites and other sales platforms, developing targeted campaigns and new tools to help consumers learn more about the credit. can find out.