Say Bye Bye to electronic vehicle credit?

Up to $7,500 credit for electronic and plug-in hybrid vehicles. No longer with proposed tax reform.

The debate when looking to purchase a new vehicle… buy normal car or electronic car. Buying an electronic car is intriguing because of the gas savings. But electronic cars are more expensive than equivalent gas-only cars. The extra cost for an electronic car may not be worth it on gas savings only. The up to $7,500 credit for electric cars bridged the cost difference gap. But maybe not for long. The tax reform bill eliminates the credit for electronic vehicles.

If you are on the bubble of purchasing a new electronic vehicle, you may want to purchase it before the end of this year.