Still, because EVs account for a small percentage of new car sales, removing the credit would have little impact on gasoline demand.

A leaked draft of Treasury Department rules for hydrogen tax credits in President Joe Biden’s climate law is drawing warnings from advocates that they may stifle the burgeoning industry.

The departments of Treasury and Energy proposed new rules Dec. 1 that could make it harder for electric vehicles to qualify for a full $7,500 federal tax credit.

The Biden administration has discussed giving automakers a temporary reprieve from rules aimed to limit a consumer tax credit for electric vehicles that contain certain foreign materials.

WASHINGTON — Electric vehicle leases are likely to surge beginning April 18, experts say, as new federal restrictions on EV tax credits come into effect.

Ford Motor Co. expects only its F-150 Lightning pickup to qualify for a full tax credit under a new law designed to spur adoption of battery-powered models.

Reps. Mike Gallagher (R-Wis.) and Abigail Spanberger (D-Va.) unveiled the Strengthening Supply Chains Through Truck Driver Incentives Act in response to the truck driver shortage.

Automakers who are waiting for the U.S. Treasury Department to help them figure out which of their cars are eligible for lucrative electric-vehicle tax credits will have to keep waiting.

WASHINGTON — The Treasury Department said Feb. 3 it is making more electric vehicles eligible for tax credits of up to $7,500 under new vehicle classification definitions.

General Motors Co. has taken a central role in pushing the Treasury Department to change how the government defines a sport utility vehicle and expand how many buyers can get electric vehicle tax credits.