The U.S. House of Representatives recently passed President Trump's "Big Beautiful Bill," which ends crucial subsidies for electric vehicles (EVs). This includes the $7,500 tax credit for new EVs, the $4,000 credit for used vehicles, and a $1,000 incentive for Level 2 charger installation. Additionally, EVs will incur a new $250 road use fee. The bill poses challenges for potential EV buyers, particularly those with financial constraints, as the elimination of incentives may hinder accessibility unless prices decrease through domestic manufacturing increases, which may take years.
"The bill will not only eliminate the $7,500 credit on new EV purchases, but also the $4,000 credit given on the purchase of used electric vehicles, and a $1,000 credit on the installation of Level 2 chargers."
"In theory, President Trump's focus on bringing manufacturing back to America would bring prices down, but it won't happen overnight. Companies will take many years to completely bring manufacturing and part sourcing to the United States."
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