HR 1271
Electric CARS Act of 2021
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- Passed House
- Passed Senate
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- Became Law
Bill overview
The Electric CARS Act of 2021 extends and modifies tax credits for electric vehicles and alternative fuel vehicles. It extends the credit for new qualified plug-in electric drive motor vehicles through 2031, removes limitations on the number of vehicles a manufacturer can claim, allows taxpayers to assign the credit to a financing entity, and permits unused credits to be carried forward for up to five years. Additionally, the bill extends tax credits for alternative fuel vehicle refueling property and alternative motor vehicles through 2031.
Sponsors
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Primary sponsor
Peter [D-VT-At Large] Welch
Cosponsors
Alcee L. Hastings
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