The U.S. House of Representatives has introduced a bill aimed at phasing out federal electric vehicle (EV) tax credits, a move opposed by many in the industry. The bill would eliminate the $7,500 credit after 2026, while a smaller $4,000 credit would end sooner for vehicles from manufacturers that have sold over 200,000 qualifying models. This development follows President Trump's campaign promises to end federal EV credits amidst growing concerns over demand. While the bill faces opposition, particularly in states with significant EV production, its progress signals a serious shift in federal EV policy.
The House of Representatives took a significant step toward repealing federal EV tax credits, which could drastically impact EV sales and leases.
The proposed bill would phase out the $7,500 EV tax credit and apply stricter eligibility criteria, effectively ending support for most EV buyers.
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