Clean Vehicle Credit Comes With Caveats

The Inflation Reduction Act (IRA) includes a wide range of tax incentives aimed at combating the effects of climate change. One of the provisions receiving considerable attention from consumers is the expansion of the Qualified Plug-in Electric Drive Motor Vehicle Credit, now known as the Clean Vehicle Credit.

The Inflation Reduction Act (IRA) includes a wide range of tax incentives aimed at combating the effects of climate change. One of the provisions receiving considerable attention from consumers is the expansion of the Qualified Plug-in Electric Drive Motor Vehicle Credit, now known as the Clean Vehicle Credit.

While the expanded credit seems promising, questions have arisen about just how immediate its impact will be. Here is what you need to know about the credit if you are thinking about purchasing an electric vehicle (EV).