The $7,500 electric vehicle (EV) federal tax credit is set to end on Sept. 30, a move that is likely to dampen sales of these vehicles in the United States.
The credit was instituted as part of the Inflation Reduction Act signed into law by President Joe Biden in 2022. On July 4, President Donald Trump signed the One Big Beautiful Bill Act, setting Sept. 30 as the final date for receiving EV credits as part of terminating EV purchase benefits.
