The most recent data from the Treasury shows that most people are taking advantage of the tax credit at the point of sale. This is exactly how it was designed to work, allowing consumers to benefit immediately. It also provides more value to lower-income buyers who may not fully benefit by taking the credit when filing their taxes.
The answer would depend on the way the legislation is written. Congress could theoretically decide to end the tax credit for all of 2025, applying even to sales before the law passes.
We would not expect that to be a popular approach as it changes the rules on American taxpayers. If the credits are repealed, it’s more likely to go into effect after the new law passes.
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