Americans Eligible For $7,500

Here’s what Biden and the Democrats want…

Starting on January 1st, Americans will qualify for a new tax credit of up to $7,500 if they purchase an electric vehicle.

This was made possible thanks to President Biden and the Democrats’ Inflation Reduction Act which aims to get more Americans to purchase electric vehicles and reduce greenhouse emissions.

According to The Hill however, there is a complex set of requirements to be eligible including where vehicles and batteries are manufactured.

Certain electric vehicles such as Kia, Hyundai and Audi will not be eligible whatsoever because they are getting manufactured outside of North America.

This new tax credit will last until 2032 and is aiming to make zero-emission vehicles affordable for middle class Americans.

$7,500 will be offered to Americans who purchase certain new electric vehicles and a $4,000 credit will be available to those who purchase a used vehicle that runs on a battery.