EV's $7,500 Tax Credit Has Been Wiped Out as Manufacturers Raise Prices – The Lid

The Biden administration made a big deal in its falsely named “Inflation Reduction Act.” This inflation-generating bill gives Americans a generous $7,500 tax credit to buy an electric vehicle. But now that supposed credit has been wiped out because Ford and GM have raised their prices by at least the same amount as Biden’s “tax credit.” And in some cases, more.