For some time now, those wanting to get behind the wheel of a brand-new electric car in the United States have been offered a generous incentive for doing so: up to seven-thousand, five hundred dollars in Federal Income Tax credits that can be used against your year-end tax bill, effectively slashing the car’s sticker price by a decent amount. That is of course, if your tax liability is more than seven thousand five hundred dollars at the end of the year.
Available since the start of twenty ten, the Federal Tax Credit for electric vehicles often pairs up with individual state incentive programs, not only making electric vehicle ownership something of a no-brainer for those in electric car friendly states, but also makes entry-level electric cars not much more expensive than a similarly-specced internal combustion engine car.
Yet these tax credits will soon be going away, not as part of a change in policy in the White house but under the terms the incentive program was initially established with. Which means, says some sources, that electric car sales will fall off the metaphorical cliff as a consequence…
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