Saving Americans from Vehicle Energy Costs Act

2022-03-30

Introduced in House

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.

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