Fewer Electric Vehicles Will Qualify for U.S. Tax Credits in 2024
Efforts to fight global warming could suffer a setback next year when new rules reduce the number of electric cars that qualify for a federal tax credit.The credits, up to $7,500 a vehicle, have helped make electric cars more affordable, bringing the cost of some models below $30,000. Next year, for the first time, dealers will be able to give buyers the credit when they purchase a car, rather than telling them to claim it on their tax returns.But qualifying for the subsidy will become more difficult on Jan. 1 because of Biden administration rules intended to encourage automakers to…