Sen. Moreno Investigates Biden’s $22B Luxury EV Tax Credits

TL/DR –

The article discusses how newly elected Senator Bernie Moreno is investigating nearly $22 billion in tax credits from President Biden’s Inflation Reduction Act. These credits are allegedly subsidizing luxury electric vehicle purchases for the wealthy across the United States. The article asserts that over 70% of electric vehicles (EVs) are leased in America before being sold, many of which are taking advantage of a $7,500 tax credit.

Sen. Bernie Moreno Investigates Biden’s $22B Tax Credits for Luxury Electric Vehicles

Newly elected Senator Bernie Moreno is investigating nearly $22B in tax credits that come from President Biden’s Inflation Reduction Act. These tax credits are allegedly subsidizing the purchases of luxury electric vehicles by millionaires across the nation.

According to current statistics, over 70% of electric vehicles (EVs) in the United States are leased before being sold. Many of these transactions reportedly take advantage of a $7,500 tax credit that stems from the Inflation Reduction Act.

For more information, visit the [original article](https://nypost.com/2025/01/15/us-news/sen-bernie-moreno-probes-22b-in-tax-credits-for-luxury-electric-vehicles-obscene-public-policy/).
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