Automakers, congressional aides do not expect budget deal will hike $7,500 EV tax credit

WASHINGTON (Reuters) – Automakers and congressional aides told Reuters they do not expect the U.S. Congress will extend a $7,500 tax credit for electric vehicles in a year-end spending bill expected to be released later on Monday.

General Motors Co (N:) and Tesla Inc (O:) have been pushing for more than a year for the credit to be extended that phases out once an automaker hits 200,000 vehicles sold. The tax credit is aimed at defraying the cost of electric vehicles that are more expensive than similarly sized internal combustion engine vehicles.

Both GM and Tesla have already hit 200,000 EV sales. Senator Debbie Stabenow, a Michigan Democrat who authored a proposal to extend the credit, said Monday the EV proposal is facing opposition from the White House but she is still pushing for it, her office said.

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