Sorry about a hard paywall, but not much else on this yet.
Key parts:
- The text proposes ending the tax credit for new EVs (that is, 30D) on December 31, 2025 — with one exception. The credit would remain in effect for one year, through the end of 2026, for vehicles produced by automakers that have sold fewer than 200,000 tax credit-qualified cars between 2010 and the end of this year.
- The GOP has proposed an early phase-out of the technology-neutral production and investment tax credits, which subsidize zero-emissions power generation projects including wind, solar, energy storage, advanced nuclear, and geothermal. It also proposed significant changes for the years they remain in effect.
- The proposal would get rid of transferability across all of the clean energy tax credits beginning in 2028.
- The draft text would also terminate the clean manufacturing credit (45X) in 2032 — one year earlier than under existing law.
- The text proposes repealing three tax credits for residential energy efficiency improvements at the end of 2025.
- Clean hydrogen canceled
- Carbon capture largely unchanged
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Seems like it’s specifically intended to help out Mush and his failing line of shit cars.
So IRA isn’t specifically mentioned anywhere in this article. This seems more about EV tax credits than retirement accounts. What am I missing?
I was having trouble with the same. In this context, IRA refers to “Inflation reduction act”
Ah. Thanks