,,ii  #aafth ,,congress  #b;d ,session  
,s4 #ceid  ,,in ,,the ,,senate ,,of     
,,the ,,united ,,states  ,may #d1       
#bjbj,mr4 ,braun 7for himself and ,ms4  
,ernst7 introduced the following bill2  
which was read twice and referred to the
 ,committee on ,finance  ,a ,,bill  ,to 
amend the ,internal ,revenue ,code of   
#aihf to eliminate the credit for       
qualified plug-in electric drive motor  
vehicles for certain taxpayers4  #a4    
,short title ,this ,act may be cited as 
the ,ending the ,electric ,vehicle      
,entitlement for the ,wealthy4  #b4     
,elimination of personal credit based on
 adjusted gross income  7a7 ,in general 
,subsection 7c7 of section #cj;,d of the
 ,internal ,revenue ,code of #aihf is   
amended-- 7#a7 in paragraph 7#b71 by    
inserting and 7#c7 after paragraph 7#a71
 and  7#b7 by adding at the end the     
following new paragraph3  7#c7          
,elimination of personal credit based on
 adjusted gross income  7,a7 ,in general
 ,for purposes of paragraph 7#b71 in the

 case of any new qualified plug-in      
electric drive motor vehicle which is   
placed in service by a taxpayer during  
any taxable year1 if the adjusted gross 
income of such taxpayer for such taxable
 year exceeds the threshold amount1 the 
amount of the credit otherwise allowable
 under subsection 7a7 for such taxable  
year shall be reduced to zero4  7,b7    
,threshold amount ,for purposes of this 
paragraph1 the term threshold amount    
means-- 7i7 in the case of any taxpayer 
filing a joint return for the taxable   
year1 #cbf1fjj1 and  7ii7 in the case of
 any taxpayer not filing a joint return 
for the taxable year1 #afc1cjj4  7,c7   
,inflation adjustment  7i7 ,in general  
,in the case of any taxable year        
beginning after #bjba1 each of the      
dollar amounts in subparagraph 7,b7     
shall be increased by an amount equal   
to-- 7,i7 such dollar amount1 multiplied
 by  7,,ii7 the cost-of-living          
adjustment determined under section     
#a7;f77#c7 for the calendar year in     

which the taxable year begins by        
substituting calendar year #bjbj for    
calendar year #bjaf in subparagraph     
7,a77ii7 thereof4  7ii7 ,rounding ,if   
any increase determined under clause 7i7
 is not a multiple of #ajj1 such        
increase shall be rounded to the nearest
 multiple of #ajj4  4  7b7 ,effective   
date ,the amendments made by this       
section shall apply to taxable years    
beginning after ,december #ca1 #bjbj4