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Tax Credits

General Motors has sold more than 200,000 plug-in electrified vehicles, which will trigger a phase-out of a federal tax credit for purchasers of $7,500, the Internal Revenue Service has announced.

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EV Tax Credit Spared by Congress

Congressional negotiators will spare a $7,500 federal tax credit that has supported sales of plug-in electric vehicles, which was put in place in 2008 and 2009 for plug-in and converted plug-in electric vehicles.