Trump megabill axes $7,500 EV tax credit after September

A massive tax and spending package championed by President Donald Trump and passed by the Senate on Tuesday would end tax credits for electric vehicles within three months

A massive tax and spending package championed by President Donald Trump and passed by the Senate on Tuesday would end tax credits for electric vehicles within three months.

The legislation, which Republicans are trying to get to the president’s desk by July 4, would axe tax breaks for consumers who buy or lease EVs after Sept. 30.

Lawmakers would eliminate a $7,500 tax credit for households that buy or lease a new EV, and a $4,000 credit for consumers who purchase a used EV.

“If you’re interested in driving an EV — either new, used or leased — now is the time to act,” said Ingrid Malmgren, senior policy director at Plug In America, a nonprofit advocating for a quicker transition to electric cars.

“This is going to be the summer of the EV, because come the end of September those credits will be gone” if the legislation passes and remains unchanged, Malmgren said.

https://www.nbcnews.com/business/autos/trump-megabill-axes-7500-ev-tax-credit-september-rcna216314


Post ID: 1fc1e1cc-058a-423d-b5f7-525812dec9bb
Rating: 5
Created: 3 weeks ago
Your ad can be here
Create Post

Similar classified ads


News's other ads