A Look at Who is Buying Electric Vehicles

Congressional Republicans are making another attempt to kill the federal tax credit for electric vehicles, after it was left out of their November 2017 tax plan. More than 57,000 households claimed the non-refundable Qualified Plug-in Electric Drive Motor Vehicle Credit for tax year 2016, up from 42,868 in 2015. The total value of credits reached $375.1 million for all claims in 2016 and $251.6 million in 2015.

Sen. John Barrasso (R-Wyo.) would repeal the credit altogether and instead impose a federal highway user fee on all alternative-fuel vehicles. A pair of bills introduced by Sen. Dean Heller (R-Nev.) and Rep. Diane Black (R-Tenn.) would eliminate the 200,000 sales cap and begin to phase out the credit in 2022 for vehicles sold after Dec. 31, 2018.

The following chart illustrates who bought electric vehicles and claimed electric vehicle tax credits for tax years 2016 and 2015.


via Business Feeds

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