Republican tax bill retains U.S. electric vehicle tax credit

Republican tax bill retains U.S. electric vehicle tax credit

WASHINGTON (Reuters) – A compromise Republican tax bill released late Friday does not eliminate a $7,500 electric vehicle tax credit as Republicans in the U.S. House of Representatives had previously proposed. The measure follows the lead of the Senate version approved last month that did not eliminate the credit. Killing the credit could have hurt automakers like General Motors Co ( GM.N ), Volkswagen AG ( VOWG_p.DE ), Tesla Inc ( TSLA.O ) and Nissan Motor Co ( 7201.T ). Consumers under current law are eligible for a $7,500 tax credit to defray the cost of plug-in electric vehicles. […]