Recently Enacted US Budget Act Ends Tax Incentives for EV Buyers
President Donald Trump's Big Beautiful Bill will put a definitive end to federal tax incentives for electric vehicle buyers. In its quest to undo most of the Biden administration's climate action-related policies, the Trump administration initially laid out a timeline for phasing out EV tax credits through 2025. However, the recently passed Big Beautiful Bill will effectively end the federal EV incentive on September 30th. According to the huge tax and spending cut measure, American drivers interested in purchasing an electric car will have three more months to subsidize the EV purchase using the $7,500 tax incentive. In a market…
