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What to know about 2024 changes to the electric vehicle tax credit ...Middle East
Changes to the federal electric vehicle (EV) tax credit are set to take effect Jan. 1, reflecting a push by the Biden administration to focus the financial incentives on domestically produced vehicles. The changes to the tax credit, which tops out at $7,500, will exclude certain EVs that include internationally sourced components from eligibility, while for the first time allowing some buyers to access the credit right after buying an eligible vehicle. These changes stem from a central provision of the Inflation Reduction Act (IRA), the sweeping climate and infrastructure law President Biden signed last year. The provision barred vehicles including components or critical mine
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