House Republicans propose to scrap $7,500 electric vehicle credit

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WASHINGTON (Reuters) – House Republicans are proposing to eliminate a $7,500 tax credit for electric vehicles that could hurt automakers like General Motors Co, Tesla Inc and Nissan Motor Co that are selling larger numbers of vehicles, according to a summary seen by Reuters.

Current law allows automakers to use the credit that phases out after an automaker hits 200,000 plug-in vehicles sold. Electric vehicles have expensive batteries that make them pricier than gasoline-powered vehicles.

Reporting by David Shepardson; Editing by Nick Zieminski

Our Standards:The Thomson Reuters Trust Principles.



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