U.S. Senate Proposes Electric Vehicle Tax Credit Bill

Tesla, General Motors and other automakers could be boosted by an agreement in the U.S. Senate in recent days to enact a slew of climate and health spending measures. The proposed bill includes a $7,500 federal tax credit for some electric vehicle buyers.

　　Automakers and industry lobby groups said they were still considering the measures included in the bill. The proposed bill includes a $7,500 federal tax credit for select EV buyers, a further expansion of incentives for plug-in vehicles that have been in place for more than a decade, and a new $4,000 tax on used EV purchases credit. The package would also remove the cap on the number of electric car makers that can sell before their models are no longer eligible for the tax credit.