Anyone who buys a brand new electric or plug-in hybrid car in the United States from January 1, 2024 onwards will get a tax credit of US$7,500 (about R$38,700) on the list price still at the dealership, instead of having to wait months to receive your income tax refund. If the car in question is used, the credit will be US$4,000 (R$20,600).
The change, announced on October 6, 2023, is part of a new tax incentive policy by the North American government to encourage the energy mobility transition in that country. Previously, buyers had to wait for their income tax declaration to obtain the benefit.
According to the U.S. Treasury Department, the near-instant credits are expected to reduce purchasing costs for consumers and help auto dealers by increasing sales of electric and plug-in hybrid vehicles in the country.
Now, according to the Inflation Reduction Law, buyers will be able to transfer credits to resellers, who must apply them at the point of sale from January 1, 2024.
Furthermore, the government says that people can get all credits from resellers, regardless of how much they owe in federal taxes, making it easier to purchase without the risk of falling into the trap.
“For the first time, the Reducing Inflation Act allows consumers to reduce the initial cost of a clean vehicle, expanding consumer choices and helping auto dealers grow their businesses,” said Laurel Blatchford, Treasury’s director of implementation. for the Inflation Reduction Act, in a statement.
Incentives are important, says research
Recent research from George Washington University concluded that offering subsidies to consumers is an important piece of the mobility energy transition in the United States. With more than 2,000 respondents across the country, researchers found that the vast majority of consumers preferred to receive their money back in advance rather than having to wait to file their taxes and claim credits there.
According to the same survey, preference was even greater for low-income families, buyers of used vehicles and those with lower budgets.
