The federal electric vehicle (EV) tax credit, set at $7,500 for new EVs, continues to exist as it was enacted by Congress through the Inflation Reduction Act. Nevertheless, heightened Republican control raises the likelihood of efforts to eliminate this credit again, following unsuccessful attempts prior to Trump's administration. Trump's reasserted influence hints at significant legislative changes targeting the EV landscape, which could make owning an EV pricier, threatening Biden's environmental goals. Overall timing and public response will determine the credit’s fate in the coming months.
The EV tax credit remains intact for now, but Trump's control raises concerns about its potential repeal as Republican lawmakers seek to dismantle Biden's EV legacy.
While the EV tax credit is currently safe, political maneuvering indicates that it could face serious threats under the newly empowered Republican Congress.
#ev-tax-credit #trump-administration #republican-legislation #biden-administration #electric-vehicles
Collection
[
|
...
]