The electric vehicle tax credit in the Inflation Reduction Act is not enough to convince consumers to buy a new electric car, some Americans in D.C. say.
"With $7,500 free, added to my own deposit, I would definitely go and buy a new electric," Jean told Fox News. "I'm not saying I'm going to buy the car within the next few months, but within the next few years."
Sedans can't cost more than $55,000 to qualify for the credit, while SUVs and pickups are restricted to $80,000. But those prices are still outside the budgets of many drivers who spoke with Fox News."What really is $7,500 against the cost of an electric car?" Cathy, from Lincoln, Nebraska, said. She added that the best approach is to buy an affordable car, pay it off and own it outright.
"We have to live within our means, not live above our means. And I think that's what I see our government doing," Cathy continued. "They're living above what they can afford and pretending like there's no tomorrow." Senate Majority Leader Chuck Schumer speaks during a news conference after passage of the Inflation Reduction Act at the U.S. Capitol."It's good that they're getting money off, but I don't think I would buy one because of the money off," Alexandra said. "I think I would do it just because it's good for the environment."Kristi told Fox News: "We're very excited about getting an electric vehicle.
She said she hopes the climate initiatives in the bill will make a meaningful difference on the environment. The bill will levy new fees on methane emissions and will provide tax credits for certain types of electricity, fuel and vehicles considered more environmentally friendly."I feel like my generation, which is the baby boomers, has had the advantage of all the economic increase over the years," Kristi said. "So I worry about my children and grandchildren.
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