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(Washington, DC) — Tax credits for electric vehicles will expire September 30th under the sweeping spending bill passed this week by Congress and signed by President Trump. That includes the 75-hundred dollar credit for buying or leasing a new electric vehicle and the four-thousand-dollar credit for used EVs.
The Senate altered provisions in the bill, accelerating the termination of new and used EV tax incentives from December 2025 to September 2025.
A Harvard University analysis estimated ending the credits will save the government about 170-billion-dollars over a decade while reducing electric vehicle market penetration by six percent.
