Trump's EV Tax Credit Changes Could Impact U.S. Automakers and Buyers
President Trump's 'Big Beautiful Bill' significantly reduces federal incentives for electric vehicles, including ending the $7,500 rebate early and eliminating credits for used EVs and commercial vehicles, which could slow EV adoption in the US. However, it avoids imposing a controversial annual EV tax, and introduces a new tax deduction for vehicle loan interest, potentially benefiting some consumers. The bill's passage may prompt immediate EV buyers to act quickly before incentives expire, while manufacturers face the challenge of making EVs more competitively priced.