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More Than $1 Billion In EV Tax Credits Issued Upfront To Buyers, Treasury And IRS Say

13 Jun 2024 | Abstracted from CNBC

"The Inflation Reduction Act created a mechanism whereby tax credits for buyers of new and used EVs - worth up to $7,500 and $4,000, respectively - could be delivered by car dealers at the point of sale.

"Since the start of the year, about 125,000 consumers have opted to get their 'new clean vehicle' tax credit as an upfront payment...25,000 buyers have opted for upfront payment for the 'previously owned clean vehicle' credit..."



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