Trump wants to put the EV tax credit on the chopping block — and even Elon Musk agrees.
President-elect Trump’s transition team has pledged to eliminate the credit for electric vehicle buyers — worth up to $7,500 for new EVs and $4,000 for used.
Just a reminder that this is also the legislation that brought us the kill switch, speed limiters, and the ban on motorhome sales.
This was meant to encourage a broad transition from internal combustion engines to electric drivetrains by lowering the net retail price of electric vehicles for American consumers.
But what’s often overlooked is that the credit depends on what you already owe in federal taxes. Only those with a $7,500 or higher tax bill get the full credit, while lower-income households
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