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SPENDING DEAL DOES NOT HIKE EV CREDIT


WASHINGTON (Reuters) - The U.S. Congress declined to extend a $7,500 tax credit for electric vehicles but will boost funding for aviation safety after two deadly Boeing 737 MAX crashes.

General Motors Co (GM.N) and Tesla Inc (TSLA.O) have been pushing for more than a year for extension of the credit, which phases out once an automaker hits 200,000 vehicles sold, and many lawmakers had been pushing to include the extension. The tax credit is aimed at defraying the cost of electric vehicles that are more expensive than similarly sized internal combustion engine vehicles.

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