> Among these is a revision to the existing tax credit for new plug-in electric vehicles. As we detailed last week, the IRA introduces income caps for the tax credit, and it will only apply to sedans that cost less than $55,000 and other EVs that cost less than $80,000. The bill also drops the 200,000 vehicle-per-OEM cap on the tax credit, which would benefit both General Motors and Tesla.
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