WASHINGTON: A bipartisan group of US lawmakers will introduce legislation on Wednesday to expand the electric vehicle tax credit by 400,000 vehicles per manufacturer, a provision that would give a boost to General Motors and Tesla before the existing credit comes to an end for them.
The bill dubbed the"Driving America Forward Act" would grant each automaker a US$7,000 tax credit for an additional 400,000 vehicles on top of the existing 200,000 vehicles eligible for US$7,500 tax credits. It would shorten the phase-out schedule to nine months. Last month, the White House proposed immediately eliminating the US$7,500 tax credit, a move it said would save the U.S. government US$2.5 billion over a decade.
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