One state has created a program that will benefit residents that purchase a new electric car.
Rhode Island has created the DRIVE EV program worth $1.5 million. Residents that make the purchase could see payments worth as much as $2,500.
The Rhode Island Office of Energy Resources created the program in July, according to Marca, with the goal of fighting climate change.
To date almost half a million in rebates have already been sent out. The rebate will give residents up to $2,500 for the purchase of a new electric vehicle and up to $1,500 for the purchase of a new plug-in hybrid vehicle.
The price limit is $60,000 for new electric cars and $40,000 for new electric cars.
In addition to the price limits, income requirements have also been created for those wanting to claim the rebate.
Single filers with an AGI of under $150,000 can receive the rebate of up to $7,500. Joint filers cannot exceed $300,000 and head of household filers cannot exceed $225,000.
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