As gas prices spike, drivers can get $7,500 tax credit on electric cars

The Russian invasion of Ukraine has caused concern about the supply of crude oil, and the price per barrel spiked across the globe. However, drivers across the country can take advantage of a federal tax credit of up to $7,500 for an electric or hybrid vehicle, according to the U. S. Department of Energy. Earlier this month, the Biden administration announced a massive plan to build 500,000 charging stations along highways across the country.

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