US EV Tax Credit Will Be Eliminated, Trump Transition Team Reportedly Says

The tax credit, which has given back up to $7,500 to eligible EV buyers, may disappear under the new administration.

April 15, 2025 · 1 min · 57 words · Gloria Richardson

The credit knocks up to $7,500 off the federal income tax bill of purchasers of eligible EVs.

Reuters cited multiple insiders in the transition team for its report.

The Trump transition team didn’t immediately respond to a request for comment.

Musk’s satellite companyStarlink is also likely to benefitfrom the CEO’s close relationship with the new presidential administration.