WASHINGTON -- House Democrats released a revised bill on Wednesday that expands a proposed tax credit of up to $12,500 for electric vehicles to slightly pricier vehicles, while lowering income limits for eligible buyers.
The bill revises pricing for vehicles eligible for the credit: vans, sport utility vehicles and pickups up to $80,000 are eligible, while sedans remain at $55,000 as they were under the prior version.
The earlier version capped credits at $64,000 for vans, $69,000 for SUVs and $74,000 for pickups.
The new proposal limits the full EV tax credit for individual taxpayers reporting adjusted gross incomes of $250,000 or $500,000 for joint filers, down from $400,000 for individual filers and $800,000 for joint filers.
Tesla Inc., Toyota Motor Corp. and other non-union automakers have strongly opposed the measure because it includes a $4,500 incentive for union-built EVs made in the U.S.
The Biden administration, the Detroit 3 automakers, the UAW and union supporters in Congress favor the legislation.
