Senate looks to pass tax bill that preserves electric car credit
Threatened by House Republicans last month, the latest version of a bill with sweeping tax cuts preserves a massive federal credit for electric cars — and the bill looks to have the necessary votes to pass. By Friday afternoon, Republican senators Bob Corker (R-TN) and Marco Rubio (R-FL) agreed to this version of the $1.5 billion Tax Cuts and Jobs Act.
A bill passed in the House of Representatives last month would have killed the electric vehicle tax credit that ranges between $2,500 and $7,500 depending on the size of the vehicle and its battery capacity. A Senate bill passed later in November kept the credit, along with numerous other items cut in the House version.
The bill stumbled earlier this week not because of the EV tax credit,…
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