The US House of Representatives has passed President Donald Trump‘s tax and spending bill, known as the “Big Beautiful Bill.” This move effectively eliminates the $7,500 tax credit for new, US-made electric vehicles (EVs).
What Happened: The tax incentive will be discontinued from September 30th. This is likely to make EVs more costly, and some manufacturers have already started adjusting their prices accordingly.
The Jeff Bezos-backed EV startup, Slate Auto, has notably removed the “under $20,000” expected price tag for its forthcoming electric pickup truck from its website.
