Time Running Out to Buy Electric Vehicles Before Tax Credit Expires
There’s a hard stop coming soon on a lucrative tax credit for electric-vehicle buyers, now that the Republican megabill has won congressional approval and was signed by President Donald Trump.
The $7,500 tax credit that car shoppers can use for new EV purchases is set to expire at the end of September, according to the tax and spending bill that Trump signed into law Friday.
For consumers who are already considering an EV, “it would be a time to get a really good deal,” one expert said.
Buyers looking to take advantage of this credit need to act quickly as the deadline approaches.
As the automotive industry continues to shift towards electric vehicles, potential buyers are facing a critical decision point due to impending changes in tax policy.
