H.R. 7295 · 117th Congress
Saving Americans from Vehicle Energy Costs Act
- Stage
- In committee
- Sponsor
- Steven Horsford
- Introduced
- 2022-03-30
- Latest action
- 2022-03-30 · Introduced in House
Summary
Saving Americans from Vehicle Energy Costs Act
This bill allows individual taxpayers a new refundable tax credit for owning or leasing a vehicle treated as a motor vehicle under the Clean Air Act and registered for highway use. The monthly amount of the credit is $300 times the number of such vehicles owned or leased by the taxpayer. Taxpayers whose adjusted gross income exceeds $200,000 ($400,000 in the case of a joint tax return) in any taxable year are not eligible for the credit.
The Department of the Treasury must establish a program for advance monthly payments of the credit.