Affordable EVs for Working Families Act

Affordable EVs for Working Families Act

This bill allows an income-based tax credit for the purchase of a previously-owned qualified plug-in electric drive motor vehicle. The credit is limited to 30% of the sales price of such a vehicle. The bill defines previously-owned qualified plug-in electric drive motor vehicle to mean a motor vehicle the model year of which is at least two years earlier than the calendar year in which the vehicle is acquired and that meets certain requirements under the Clean Air Act.

Bill 117 HR 4817, also known as the Affordable EVs for Working Families Act, aims to make electric vehicles (EVs) more accessible and affordable for low- and middle-income families in the United States. The bill was introduced in the House of Representatives and is currently under consideration by Congress.

The main provisions of the bill include the establishment of a rebate program that would provide financial incentives for the purchase of new or used electric vehicles. The rebates would be targeted towards individuals and families with incomes below a certain threshold, making it easier for them to afford an EV.

Additionally, the bill includes provisions for the expansion of charging infrastructure, particularly in underserved communities. This would help address one of the main barriers to EV adoption, which is the lack of convenient and accessible charging stations. The Affordable EVs for Working Families Act also includes measures to promote the development and production of affordable electric vehicles, with a focus on ensuring that these vehicles meet the needs of working families in terms of affordability, range, and performance. Overall, the bill aims to accelerate the transition to electric vehicles in the United States, while also ensuring that low- and middle-income families are not left behind in this shift towards cleaner transportation options. It is currently being debated in Congress, with supporters arguing that it is a necessary step towards reducing greenhouse gas emissions and combating climate change.