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Automakers urge Congress to lift EV tax credit cap

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Several major automakers are calling on Congress to lift a cap on the $7,500 electric vehicle tax credit.

General Motors, Ford Motor Co., Chrysler parent company Stellantis and Toyota are among companies that have joined the effort.

Currently, the $7,500 tax credit phases out after a manufacturer hits 200,000 vehicles sold.

Read more from Reuters.

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