Act now for $7,500 EV tax credit: There’s ‘real risk’ Trump will axe funding in 2025. Prospective car buyers considering an electric vehicle may need to act fast to get a Biden-era EV tax credit worth up to $7,500. Trump reportedly aims to eliminate the EV credits to raise money for tax cuts.

8 comments

1. I’ve been thinking about this. Given that this credit is redeemable at point of sale – i.e., the dealership can account for it in what you pay – there will be people able to take advantage of it in early 2025, before a presumptive repeal is passed. Tax law passed in 2025 would affect 2026, so the credit should be available all next year as well.

   The article raises the concern of a retroactive repeal (repeal passed in 2025 that would affect purchases that had happened earlier in 2025), which I guess would be yet another precedent the Republicans could break, but CNBC’s source on that is a fearful NC buyer and not anyone who knows anything. Nice headline for car dealers though, I guess.

2. Republicans have never worried about spiking the deficit to pay for tax cuts for the wealthy. They just want to cripple EV sales to please their fossil fuel donors. Trump is so transparent.

3. Unreal that broke republicans voted for this 🤦🏽‍♂️

4. Idiot Musk thinks this is better for Tesla that customers has to pay more for his cars/trucks.

5. “to raise money for tax cuts” lol. You just made that up. But yes, tax cuts are far better than EV tax credits

6. America voted to go backwards so the rebate will be gone.

7. Time for us all to call Elon Musk, the richest man in the world, an idiot who apparently doesn’t know anything.

8. And my new golf cart doesn’t have a big enough battery to qualify

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