End Taxpayer Subsidies for Electric Vehicles Act

Bill: 118-s-3016
Sponsor: full_name: Sen. Paul, Rand [R-KY]
Introduced: 2023-10-04
Policy area: Taxation
Latest action: action_date: 2023-10-04
text: Read twice and referred to the Committee on Finance.

Summaries:
action_date: 2023-10-04
action_desc: Introduced in Senate
text: <p><strong>End Taxpayer Subsidies for Electric Vehicles Act</strong></p><p>This bill eliminates the tax credit for the purchase of a qualified new clean vehicle.&nbsp;</p><p>Under current law, a nonrefundable tax credit of up to $7,500 is allowed for the purchase of a vehicle that</p><ul><li>is acquired new and for use by the taxpayer;</li><li>is made by a qualified manufacturer;</li><li>weighs less than 14,000 pounds;</li><li>is manufactured primarily for use on public streets, roads, and highways;</li><li>is powered significantly by an electric motor with a battery capacity of seven kilowatt hours or more;</li><li>is capable of being recharged from an external source of electricity; and</li><li>has final assembly occurring within North America.&nbsp;&nbsp;</li></ul>

tv_txt: II 118th CONGRESS 1st Session S. 3016 IN THE SENATE OF THE UNITED STATES October 4, 2023 Mr. Paul introduced the following bill; which was read twice and referred to the Committee on Finance A BILL To amend the Internal Revenue Code of 1986 to repeal the clean vehicle credit.

1. Short title This Act may be cited as the End Taxpayer Subsidies for Electric Vehicles Act . 2. Repeal of clean vehicle credit (a) In general Subpart B of part IV of subchapter A of chapter 1 of the Internal Revenue Code of 1986 is amended by striking section 30D (and by striking the item relating to such section in the table of sections for such subpart). (b) Conforming amendments (1) Section 30B(d)(3) of the Internal Revenue Code of 1986 is amended by striking subparagraph (D). (2) Section 38(b) of such Code is amended by striking paragraph (30). (3) Section 179D(d)(3)(B)(ii) of such Code is amended by inserting , as in effect on the day before the date of the enactment of the End Taxpayer Subsidies for Electric Vehicles Act after section 30D(g)(9) . (4) Section 1016(a) of such Code is amended— (A) in paragraph (36), by adding and at the end, (B) by striking paragraph (37), and (C) by redesignating paragraph (38) as paragraph (37). (5) Section 6213(g)(2) of such Code is amended by striking subparagraph (T). (6) Section 6417(d)(1)(A)(iv) of such Code is amended by inserting , as in effect on the day before the date of the enactment of the End Taxpayer Subsidies for Electric Vehicles Act after section 30D(g)(9) . (7) Section 6501(m) of such Code is amended by striking 30D(f)(6), . (8) Section 166(b)(5)(A)(ii) of title 23, United States Code, is amended by inserting , as in effect on the day before the date of the enactment of the End Taxpayer Subsidies for Electric Vehicles Act after section 30D(d)(1) of the Internal Revenue Code of 1986 . (c) Effective date The amendments made by this section shall apply to vehicles placed in service during any calendar year beginning after the date of enactment of this Act.