ELITE Vehicles Act

Hozzl · 2025-03-15T04:23:20Z

Explore the details of House Bill 1367 ELITE Vehicles Act currently in Congress. Get insights into its purpose, current status, sponsors, and potential impact on undefined. Stay informed on legislative developments.

3/15/2025, 4:23 AM

Summary of Bill HR 1367

Bill 119 HR 1367, also known as the "Clean Vehicles Credit Repeal Act," aims to make changes to the Internal Revenue Code of 1986 by repealing the credit for new clean vehicles. This credit was originally put in place to incentivize the purchase of environmentally friendly vehicles, such as electric or hybrid cars.

The bill proposes to eliminate this credit, which has been criticized by some as being too costly and ineffective in promoting the adoption of clean vehicles. Supporters of the bill argue that the credit is no longer necessary as the market for clean vehicles has grown significantly in recent years without the need for government incentives.

In addition to repealing the clean vehicles credit, the bill also includes provisions for other purposes, although specific details on these other purposes are not provided in the summary. Overall, the Clean Vehicles Credit Repeal Act seeks to make changes to the tax code in order to remove a financial incentive for purchasing clean vehicles. The impact of this bill, if passed, could have significant implications for the clean energy and automotive industries.

Congressional Summary of HR 1367

Eliminate Lavish Incentives To Electric Vehicles Act or the ELITE Vehicles Act

This bill eliminates federal tax credits for the purchase of certain clean vehicles (generally electric vehicles and plug-in hybrid vehicles) and electric vehicle recharging stations.

Specifically, the bill repeals the federal tax credits for

the purchase of a qualified used clean vehicle (tax credit of up to $4,000 for the purchase of a previously-owned clean vehicle before 2033),
the purchase of a qualified new clean vehicle (tax credit of up to $7,500 for the purchase of a new clean vehicle before 2033),
the purchase of a qualified commercial clean vehicle (business tax credit of up to $40,000 for the purchase of a commercial clean vehicle before 2033), and
alternative fuel vehicle refueling property used to recharge electric vehicles (tax credit of up to $1,000 for individuals or up to $100,000 for businesses for the installation of property before 2033 that is used to recharge electric vehicles).

Read the Full Bill

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Current Status of Bill HR 1367

Bill HR 1367 is currently in the status of Bill Introduced since February 14, 2025. Bill HR 1367 was introduced during Congress 119 and was introduced to the House on February 14, 2025. Bill HR 1367's most recent activity was Referred to the House Committee on Ways and Means. as of February 14, 2025

Bipartisan Support of Bill HR 1367

Total Number of Sponsors

Democrat Sponsors

Republican Sponsors

Unaffiliated Sponsors

Total Number of Cosponsors

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Policy Area and Potential Impact of Bill HR 1367

Primary Policy Focus

Alternate Title(s) of Bill HR 1367

To amend the Internal Revenue Code of 1986 to repeal the credit for new clean vehicles, and for other purposes.

Comments

Guillermo Fuller

657

1 year ago

I can't believe they're trying to pass this bill. It's just going to make things harder for everyone. This is not the direction we should be going in. It's frustrating to see decisions like this being made. Overall, it's just disappointing.

Corbin Mayo

620

1 year ago

I can't believe this bill is tryna take away the credit for new clean vehicles! This is gonna hurt the environment and make it harder for folks to afford eco-friendly cars. I rely on that credit to help me save money and reduce my carbon footprint. Who's gonna suffer from this bill? The planet and people like me who care about the future.