Electric CARS Act of 2021
- Last Action
- 2/23/2021
Actions
- 2021-02-23Referred to the House Committee on Ways and Means.
- 2021-02-23Introduced in House
- 2021-02-23Introduced in House
CRS Summary
As of 2021-02-23 (00)
Electric Credit Access Ready at Sale Act of 2021 or the Electric CARS Act of 2021
This bill modifies and extends tax credits for electric cars and alternative motor vehicles.
The bill extends the tax credit for new qualified plug-in electric drive motor vehicles through 2031. In addition, the bill modifies the credit to
- remove the limitation on the number of vehicles per manufacturer that are eligible for the credit,
- allow a taxpayer to assign the credit to a financing entity, and
- allow an unused credit to be carried forward for five years.
The bill also extends through 2031 the tax credits for (1) alternative fuel vehicle refueling property, and (2) alternative motor vehicles.
Cosponsors (20)
- Ro Khanna (D-CA)
- Paul Tonko (D-NY)
- Matt Cartwright (D-PA)
- Gerald Connolly (D-VA)
- Emanuel Cleaver (D-MO)
- Chellie Pingree (D-ME)
- Mary Scanlon (D-PA)
- Debbie Wasserman Schultz (D-FL)
- Salud Carbajal (D-CA)
- Raúl Grijalva (D-AZ)
- Doris Matsui (D-CA)
- Sean Casten (D-IL)
- Jared Huffman (D-CA)
- ALCEE HASTINGS (D-FL)
- Pramila Jayapal (D-WA)
- Mondaire Jones (D-NY)
- Jahana Hayes (D-CT)
- Mike Quigley (D-IL)
- JAMES LANGEVIN (D-RI)
- André Carson (D-IN)
Subjects
- Alternative and renewable resources
- Energy efficiency and conservation
- Hybrid, electric, and advanced technology vehicles
- Income tax credits
Sourced from Congress.gov (public domain).
This is legal information, not legal advice. Laws vary by jurisdiction and change frequently. Always verify current law with official sources and consult a licensed attorney in your jurisdiction for advice on your specific situation.