Senator Barrasso's ELITE Vehicle Act Puts Tax Credits for EVs on the Chopping Block

Senator John Barrasso has put forth the ELITE Vehicles Act would take away a $7,500 tax credit for new electric vehicles, eliminate the tax credit for buying used EV's, wipe out federal investment tax credit for EV charging stations, and -- in Barrasso's words -- close the leasing loophole that allows certain taxpayers and foreign entities to evade restrictions on EV incentives.

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