Electric Car Buyers In 2023 May Have To Pay Back Their US $7,500 Tax Credit

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A press release on Sen. Manchin’s website states, in part: “It is unacceptable that the U.S. Treasury has failed to issue updated guidance for the 30D electric vehicle tax credits and continues to make the full $7,500 credits available without meeting all of the clear requirements included in the Inflation Reduction Act,” Manchin wrote. “The IRA [Inflation reduction Act] and the EV tax credits must be implemented according to the Congressional intent to ensure the United States, as the superpower of the world, is not beholden to countries that don’t share our values … ” 

Per the Autopian, Sen Manchin told reporters that not only will the proposed Act halt the EV credits, but it may also require people who have already used these credits when buying a new EV to pay back. As of now, the bill is just in its proposal stage and needs to pass Congressional and Presidential muster before it’s passed into law.

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