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The EV Tax Credit Phaseout: Necessary or Not?

March 3, 2022 by Vanessa Ishimwe

By Isaac Golub, Staff Editor

In 2009, the Obama administration created the electric vehicle tax credit to encourage purchasing electric vehicles (EVs). However, the bill included a built-in phaseout that starts once a manufacturer sells 200,000 electric vehicles. Is the current phaseout quota necessary, or is it ending the tax credit prematurely?