Minnesota congressman Dean Phillips has introduced a bill in Congress that would provide a $2500 tax credit for off-road EV purchases.
The bill, as it’s currently written, would provide a tax credit of up to $2,500 for the purchase of a new, qualifying, off-road electric vehicles. the Michael F. Donoughe Tax Credit for Off Road Electric Vehicles Act (aka, H. R. 9481) is co-sponsored by Representative Brian K. Fitzpatrick (R) of Pennsylvania, making this a truly bipartisan bill.
The bill was referred to the House Ways and Means Committee on December 23. If it passes, the bill would provide a 10% federal tax credit on qualifying electric off-road vehicles that’s capped at $2,500. What that means is that, for example, you could buy a $12,000 quad and get a 10% tax credit of $1,200. Alternatively, you could buy a $27,500 electric UTV and get a similar tax credit, but at “just” $2,500, instead of the “full” 10% of $2,750.
Still with us? Great!
The bill was named for former Polaris Chief Technology Officer Michael F. Donoughe, who sadly passed this summer. Donoughe was known for pushing Polaris throughout his Polaris career, and up until his unexpected death.
“On behalf of the entire Polaris team, we also are honored and deeply appreciative of Rep. Phillips’s decision to name the bill after the late Mike Donoughe, a Polaris leader who passed away unexpectedly last summer,” said Polaris CEO Mike Speetzen, in a statement. “Mike was truly passionate about advancing electrification in off-road vehicles and he played a guiding role in our efforts.”
The bill is currently written to apply to EVs weighing less than 3,500 lbs., with two or more seats, and three or more wheels – dirt bikes, in other words, won’t qualify.
You can check out the full text of H.R.9481 in the official public record, here, then let us know what you think of the newly proposed bill in the comments section at the bottom of the page.
SOURCE | IMAGES: 117th CONGRESS, VIA RIDE APART
FTC: We use income-earning auto affiliate links. Learn more.
