Personal fuel and charging costs would qualify for tax credits

Individuals would be allowed a federal income tax credit equal to their covered expenses. Covered expenses would include gasoline or diesel bought for personal vehicle use and charging an electric vehicle for personal use. The credit would apply to amounts paid or incurred after December 31, 2026.

People claiming the credit could not claim another credit or deduction under the federal tax code for the same expenses. This rule would cover individuals who count fuel or charging expenses toward the credit. The restriction would apply only to expenses counted toward this credit for the tax year. The restriction would apply to amounts paid or incurred after December 31, 2026.