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The GOP megabill has new tax breaks aimed at low- and moderate-income households, and spending cuts that could make it harder for some to receive public assistance or hold onto health insurance.
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Social Security Administration sends misleading email lauding Trump's new tax cuts law NBC NewsDoes the "big, beautiful bill" eliminate taxes on Social Security? CBS NewsWhat to know about the $6,000 ‘senior deduction' in GOP megabill The Hill
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ICE prepares detention blitz with historic $45 billion in funding The Washington PostGOP tax bill bets big on Trump's immigration agenda despite poll warnings The Washington PostIn Trump's new budget bill, Latinos pay a hefty price Los Angeles TimesHow Immigrants Will Help Fund Trump's Tax Cuts WSJSenate Approves Unprecedented Spending for Mass Deportation, Ignorin
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The highest earners in Wyoming, South Dakota and Texas stand to get a tax cut of more than $100,000, according to the Institute on Taxation and Economic Policy.
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Trump signs big tax cut and spending bill into law in July Fourth ceremony NBC NewsTrump signs his agenda bill, with a flyover and fireworks to mark the occasion CNNTrump signs 'big, beautiful' bill in sweeping victory for second term agenda, overcoming Dems and GOP rebels Fox News
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From taxes to health care to immigration, Trump's 'big, beautiful bill' will have big impact on Long Island NewsdayHow Trump's big bill will affect you, from Medicaid cuts to tax credits The Washington PostPresident Trump's "big, beautiful bill" threatens Medicaid access for millions in Florida, advocates warn CBS NewsThree reasons why Republicans cut Medicaid Politico
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The rideshare program has pitted disability advocates against organized labor, which sees the program as a way for Pace to outsource union jobs to poorly compensated gig workers at taxpayer expense.
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'Selling' the megabill: Republicans tout taxes, Democrats point to Medicaid cuts ABC News - Breaking News, Latest News and VideosHow your income taxes will change after Trump signs the ‘big, beautiful bill' into law The HillGame on: Republicans, Democrats trade fire over
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The $7,500 tax credit that car shoppers can use for new EV purchases is set to expire at the end of September, according to the tax and spending bill that passed the House of Representatives on Thursday.
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President Biden signed the Inflation Reduction Act into law on August 16. The massive climate, energy, tax, and healthcare package contains numerous clean energy incentives including tax credits for the purchase of new and used electric vehicles. But you may not have heard that the new law also revives the tax credit for electric vehicle charging stations and equipment that had expired in 2021. There are some changes to the prior charging station tax credit that you will want to be aware of, so that you can potentially use the tax break for your own EV charger.
What is the Tax Write Off for EV Chargers?
The federal tax credit for electric vehicle chargers originally expired on December 31, 2021. However, the Inflation Reduction Act's Alternative Fuel Refueling Property tax credit extends the EV charger tax incentive ten years—through December 31, 2032.
SEE MORE EV Tax Credits Are Changing: What's Ahead
So, what does that mean for you? Essentially, if you install an EV charging station at home, the tax credit under the Inflation Reduction Act is 30% of the cost of hardware and installation, up to $1,000. Also, beginning in 2023, the tax credit for business and home installations, will apply to other EV charging equipment like bidirectional (i.e., two-way) chargers.
Businesses that that install new EV chargers or EV charging equipment can also benefit from a tax incentive of up to 30% of the total cost of equipment and installation. But they will have to meet certain labor and construction requirements to be eligible to claim the full incentive.
Before the Inflation Reduction Act, the limit on the amount of the EV charger tax credit for businesses was $30,000 (which still applies to projects completed before the end of 2022). However, under the new law, if you complete the business installa
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