Daily Tax Report ®

Lawmakers Introduce Bipartisan Bill on Electric Car Tax Credits (1)

April 10, 2019, 2:22 PMUpdated: April 10, 2019, 6:17 PM

A bipartisan group of senators introduced legislation Wednesday that would extend a lucrative tax credit for electric vehicles that could benefit companies like Tesla Inc. and General Motors Co.

The chances of the Senate extending the electric vehicle tax credit, which President Donald Trump proposed rescinding in his most recent budget request, aren’t great, according to analysts.

“Prospects aren’t zero—EV credit expansion could still be part of a bigger bargain -- but they aren’t good because the Congress isn’t showing much room for bipartisan bargains anytime soon,” said Kevin Book, managing director of Washington-based consultancy ClearView Energy Partners. “The...

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