The House of Representatives passed President Trump's "Big Beautiful Bill," which terminates significant EV subsidy programs including the $7,500 tax credit for new electric vehicles by the end of the year. It also eliminates the $4,000 credit for used EVs and a $1,000 installation tax credit for Level 2 chargers. Additionally, it introduces a $250 road use fee for EVs. While some see potential benefits for Tesla in the short term, the long-term outlook for EV affordability may be grim as prices could increase for consumers unable to access current subsidies.
"The bill will eliminate the $7,500 credit on new EV purchases, the $4,000 credit for used vehicles, and a $1,000 charge installation credit, impacting finances significantly."
"President Trump's emphasis on domestic manufacturing may eventually lower prices, but the transition is lengthy and immediate relief for consumers is unlikely."
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