For years, converting from a gas-powered car to adopting an EV has been a tempting proposition for many drivers out on America's roads. Qualified buyers meeting certain thresholds can get up to $7,500 off certain cars at purchase.

The EV tax credit isn’t just one tax credit, but three different EV affordability credits —and, some would say, subsidizing the American industry behind them. In addition to IRS 30D, commonly known as the EV tax credit, the bill includes the Used Clean Vehicle Credit (25E) for used EVs, and the Commercial Clean Vehicle Credit (45W) for fleet EVs.

Senate Republicans introduced a pair of bills on Wednesday aiming to strip the country of its electric vehicle (EV) tax credits and instead replace it with an obligatory $1,000 tax payment to be used for repairing roads.

Republican Senators have introduced bills to not only kill the $7,500 tax credit for electric vehicles but also add