Dealers: There are two new resources now available to help decipher portions of the Inflation Reduction Act (IRA) that pertain to EV tax credits.
- Recently, the Congressional Research Service, which prepares analysis for Members and Committees of Congress, devoted its Insight publication to the Clean Vehicle Tax Credits in the Inflation Reduction Act (IRA) of 2022; you can read/download the paper here: https://crsreports.congress.gov/product/pdf/IN/IN11996. The Insight provides information about the tax credits for “clean” vehicles, highlighting in visual form the tax credits that were available before the IRA was signed into law, and qualifying criteria for vehicle tax credits during the remainder of 2022, in 2023, and beyond.
- The NADA legislative, regulatory and public affairs groups have teamed up to boil the whole thing down in to a one-page “infographic” that outlines the EV tax credit provisions and the timeline for their effective dates. A copy for your use is attached.