The Electric Vehicle Credit Officially Survives The New Republican Tax Bill

In good news for companies developing electric vehicles, and for interested consumers, the federal electric vehicle tax credit will not be repealed in the Republican tax bill going to a vote next week.

Everyone else, including non-billionaires, is still pretty screwed by the tax bill, though.

Earlier this week, worries that the U.S. Senate would confirm an amendment to cut the government's existing electric vehicle tax credit were diminished by a Bloomberg report claiming the credit would remain. The final version of the Senate tax bill has no provision to repeal the credit for electric cars.

The Electric Drive Transportation Association released a statement concerning the final version of the bill from EDTA President Genevieve Cullen:

"We are extremely pleased that members of the conference left in place the consumer credit for plug-in electric vehicles with the agreement for H.R. 1. This credit supports innovation and job creation while helping drivers access advanced vehicle technology. Keeping the plug-in vehicle credit in place is the right policy for consumers and for the nation. We appreciate the conferees' support and will continue to work with Congress to advance U.S. competitiveness through electric mobility."

You can read the final version of the GOP tax plan here.