Reuters

U.S. Democrats’ plan boosts EV tax credit eligibility to pricier trucks, SUVs

WASHINGTON (Reuters) -Democrats in the U.S. House of Representatives released an updated social spending and climate measure on Wednesday that expands a proposed $12,500 tax credit to pricier zero-emission vehicles, while lowering income limits for eligible buyers. Vans, sport utility vehicles and trucks with a manufacturer’s suggested retail price of up to $80,000 are eligible, while sedans remain at $55,000 as they were under the prior version. The earlier version capped credits at $64,000 for vans, $69,000 for SUVs and $74,000 for pickup trucks.