Electric vehicle tax credits 2024 and 2025: What you need to know Federal EV tax credits in 2024 top out at $7,500 if you're buying a new car and $4,000 if you're buying a used car, while the bank ...

When President Trump signed his big budget bill into law on July 4, it eliminated the electric vehicle (EV) tax credits enacted under the Biden Administration.

The House version of the tax bill would revoke credits for EVs starting at the end of this year. If the plan survives, it would dramatically shape automaker investments and EV sales.

In the meantime, a leasing loophole is helping more buyers access the full $7,500 credit. Here's what to know about claiming tax credits and rebates on electric-car purchases.

Fewer people will be able to afford electric cars and trucks if President-elect Donald J. Trump and Republicans in Congress eliminate a $7,500 federal tax credit.

Electric Cars and Plug-In Hybrids That Qualify for Federal Tax Credits (For Now) If you've decided to purchase an EV or a PHEV, act fast—the $7,500 tax credit expires soon ...

It pays to know the complex tax rules before rushing to buy or lease an electric vehicle or plug-in hybrid vehicle before credits expire Sept. 30.

The end of those tax credits may cost Tesla $1.2 billion, according to JPMorgan Chase. Musk has previously shrugged off the idea of winding down electric car tax incentives: "Take away the subsidies.

The E.P.A. under Trump is moving to eliminate credits to carmakers for the fuel-saving start-stop function.

Federal EV tax credits in 2025 top out at $7,500 if you're buying a new car and $4,000 if you're buying a used car, while the bank or the automaker's finance company can take a $7,500 tax credit ...