Trump's "Big Beautiful Bill" has removed the $7,500 tax credit for new electric vehicles, effective September 30th. This change is expected to raise the prices of EVs, with automakers already responding by adjusting their pricing strategies. Not all electric and hybrid vehicle models qualify for the tax incentive, which has specific restrictions such as model year limitations and income eligibility for buyers. Additionally, a separate federal tax credit for used electric vehicles offers up to $4,000 for qualified purchases.
President Donald Trump's "Big Beautiful Bill" has eliminated the $7,500 tax credit for new electric vehicles, making them more expensive after September 30th.
The removal of the tax credit will likely lead to price increases for electric vehicles, with some automakers already adjusting their prices accordingly.
Only specific models and trims qualify for the tax incentive under the new regulations, and strict income limits apply to buyers.
The federal tax incentive for used electric vehicles remains in place, allowing for a credit of up to $4,000.
Collection
[
|
...
]