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Trump's Budget Proposal Would End Tax Credit For Electric Car

Video Credit: Wochit - Duration: 00:37s - Published < > Embed
Trump's Budget Proposal Would End Tax Credit For Electric Car

Trump's Budget Proposal Would End Tax Credit For Electric Car

On Monday, the White House proposed eliminating a tax credit worth up to $7,500 on the purchase of new electric vehicles.

According to AutoNews, the move would save the U.S. government $2.5 billion over a decade.

Major automakers have been lobbying Congress to extend the credit that phases out after companies hit 200,000 vehicles sold.

They are hopeful Congress could expand the benefit.

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