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Are you thinking about getting an electric car? It may cost you.
That’s even after applying the new tax credit for qualifying vehicles—the list has gotten considerably smaller for any vehicle sold after April 18.
Congress’ Inflation Reduction Act, passed in 2022, allows any American to claim a $7,500 federal tax credit on a qualifying electric vehicle, aiming to bring the costs of transitioning to a more environmentally friendly ride down for the average consumer.
