New, Stricter Requirements for EV Tax Credits in 2024 are Inspiring EV Lease Credits You’ve probably heard about the revised federal electric vehicle tax credit (now officially named the “Clean Vehicle Tax Credit“) that offers up to $7,500 for the purchase of new electric vehicles (EVs) and plug-in hybrid electric vehicles (PHEVs) sold in the United States. On the plus side, the revisions created in the Inflation Reduction Act brought back the possibility for the purchase of PHEVs and EVs from popular manufacturers to be eligible for tax credits again (Tesla, GM, and Toyota had previously run out of eligibility).
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