AUTO INDUSTRY/CONGRESS/TAXES/TRUMP AS PRESIDENT: “President Donald Trump has proposed ending tax credits to encourage the purchase of electric cars but a bipartisan group in Congress moved to stop him. U.S. Sens. Debbie Stabenow and Gary Peters, both D-Mich., as well as Sens. Lamar Alexander, R-Tenn., Susan Collins, R-Maine, and U.S. Rep. Dan Kildee, D-Flint Township, instead proposed legislation Wednesday that would expand the credits…Under the current regulations, consumers purchasing eligible electric-powered vehicles can receive a tax credit of up to $7,500. The Trump administration has said getting rid of that credit could allow the U.S. Treasury to bring in another $2.5 billion. …Eliminating or changing the credits, however, would take an act of Congress, and the program has enjoyed bipartisan support in the past. In the current proposal, rather than eliminating the credit it would expand it, raising the limit at which it currently begins to phase out. Current law says that once an auto manufacturer sells 200,000 vehicles, the credit begins to phase out entirely over the next calendar year.”
–Todd Spangler, “Trump wants to end $7,500 electric car tax credits, members of Congress move to stop him,” USA Today, April 11, 2019 10:42 am