The Latest Breaking News from John Bozzella

WASHINGTON — It will soon become harder to get a full $7,500 tax credit for a new electric vehicle under proposed rules released Friday by the U.S. Treasury Department — and interested buyers should move fast.

When the US Treasury's newly official rules kick in on April 18, very few (if any) EVs will qualify for the full credit, and this includes EVs made in the USA.

WASHINGTON — The U.S. Treasury is changing how it defines a sport utility vehicle Friday after car companies lodged complaints that some vehicles were wrongfully being boxed out of new electric vehicle tax credits.

The Treasury Department said Friday it is making more electric vehicles — including SUVs made by Tesla, Ford and General Motors — eligible for tax credits of up to $7,500 under new vehicle classification definitions

The ill-named Inflation Reduction Act is being touted by Democrats and others as, among other things, the fast track to a zero-emissions future.

Biden's about to sign a bill that would instantly make many EVs more expensive

A tax credit of up to $7,500 could be used to defray the cost of an electric vehicle under the Inflation Reduction Act now moving toward final approval in Congress

Automakers, stating in court papers, will back environmental regulators in defending the higher standards, thus backing the Biden administration's stricter air pollution standards for passenger cars, writes the Wall Street Journal.  The Alliance for Automotive Innovation, a lobbying group for automakers and suppliers, petitioned the U.S. Court of Appeals in Washington,…