Trump's EV Tax Credit Cuts Could Impact Industry and Global Competition

President-elect Donald Trump reportedly plans to eliminate the $7,500 electric vehicle (EV) tax credit, part of a broader tax overhaul, which could impact Georgia's burgeoning EV industry. The tax credit, introduced under President Biden's Inflation Reduction Act, has been pivotal in promoting domestic EV production and lowering costs for consumers. Georgia, a leader in EV manufacturing, could face challenges if the credit is removed, potentially affecting jobs and investments. Critics argue that ending the credit could hinder U.S. competitiveness in the global EV market.