The department will use EPA consumer guide instead of the Corporate Average Fuel Economy.
The Department of the Treasury has announced the expansion of the electric vehicles eligible to receive green energy tax credits. Previously, the department developed its consumer EV tax credits using the Environmental Protection Agency’s Corporate Average Fuel Economy standards, more stringent guidelines new car manufacturers are required to follow.
The Treasury Department will now be using the EPA’s Fuel Economy Labeling standard, guidelines for consumers that expand the vehicles eligible for their tax credits from only fully electric sedans to include hybrid SUVs as well.
The Treasury Department release stated, “This change will allow crossover vehicles that share similar features to be treated consistently. It will also align vehicle classifications under the clean vehicle credit with the classification displayed on the vehicle label and on the consumer-facing website FuelEconomy.gov.“
As the Lord Leads, Pray with Us…
- For Treasury Secretary Yellen as she oversees the EV tax credit program.
- For EPA officials as they evaluate and determine fuel economy standards.
Sources: AutomotiveNews, Reuters
