# Plain Language Summary: Affordable EVs for Working Families Act

This bill creates a tax credit to help people buy used electric vehicles. When you buy a used plug-in electric car or truck, you could get money back on your taxes. The credit starts at $1,250, and if the vehicle has a larger battery (more than 4 kilowatt hours), you can get an additional amount up to $1,250 more, depending on the battery size. The total credit can't be more than 30 percent of what you paid for the vehicle.

To qualify for this credit, you need to buy a used electric vehicle that's at least two model years old from a dealer or someone selling it from their inventory, and the sale price must be under $25,000. You can only use this credit once every three years, so you can't claim it repeatedly. The vehicle also has to be registered in the United States and meet certain electric vehicle standards. The seller needs to give you a certificate with information about the vehicle, including its battery capacity and vehicle identification number.

There's an income limit built into this credit. If you're single and earn more than $75,000 per year, your credit starts getting reduced by $200 for every $1,000 you earn above that threshold. If you're married filing jointly, the limit is $150,000. This means the credit is designed to help working families and lower-income people afford used electric vehicles, not higher earners. The bill applies to vehicles purchased after it becomes law.

Affordable EVs for Working Families Act

Affordable EVs for Working Families Act This bill allows an income-based tax credit for the purchase of a previously-owned qualified plug-in electric drive motor vehicle. The credit is limited to 30% of the sales price of such a vehicle. The bill defines previously-owned qualified plug-in electric drive motor vehicle to mean a motor vehicle the model year of which is at least two years earlier than the calendar year in which the vehicle is acquired and that meets certain requirements under the Clean Air Act.