Manchin Warns Yellen on EV Tax Credit Loophole for Leased Cars

Leased vehicles, rental cars, and rideshare vehicles should not be exempted from strict limitations for the electric vehicle tax credit set out out in the Inflation Reduction Act, Senator Joe Manchin writes in a letter to Treasury Secretary Janet Yellen.

• “Unfortunately, I have heard that some automakers and foreign governments are asking your agency for a broad interpretation of 45W that would allow rental cars, leased vehicles, and rideshare vehicles (such as those used for Uber and Lyft), a huge piece of the U.S. vehicle market, to be eligible for the full $7,500 commercial vehicle credit as a ...