U.S. House Democrats propose EV tax credits of up to $12,500

U.S. Democratic lawmakers late Friday proposed boosting tax credits for electric vehicles to up to $12,500 per vehicle for union-made zero emission models assembled in the United States. Under a broad tax measure that is part of a planned $3.5 trillion spending bill, the House Ways and Means Committee on Tuesday will vote on a measure that lifts the current cap on EV tax credits.

The bill would make General Motors Co and Tesla Inc eligible again for EV tax credits after they previously hit a cap on the existing $7,500 incentive. It would also create a new smaller credit for used EVs.

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