Electric vehicle tax credit could be extended, say lawmakers

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Smaller-than-usual returns have plagued taxpayers this year, but a bipartisan group of lawmakers has put together a plan to give electric vehicle buyers a much-needed break.

Electric vehicle buyers have long been able to count on a hefty $7,500 tax break, with the caveat that it would only last until their automaker sold 200,000 units.

According to CNBC, that number came for Tesla on Jan. 01, while General Motors lasted until Apr. 01. Thereafter, the tax credit was halved to $3,750, and would be phased out over the next 15 months.

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