{"id":27770,"date":"2025-05-14T13:15:21","date_gmt":"2025-05-14T13:15:21","guid":{"rendered":"http:\/\/medexperts.pro\/?p=27770"},"modified":"2025-05-14T13:23:17","modified_gmt":"2025-05-14T13:23:17","slug":"republican-bill-to-end-e-v-tax-credit-could-hurt-g-m-and-ford","status":"publish","type":"post","link":"https:\/\/medexperts.pro\/?p=27770","title":{"rendered":"Republican Bill to End E.V. Tax Credit Could Hurt G.M. and Ford"},"content":{"rendered":"
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A House Republican bill introduced this week would do away with tax credits that had encouraged Americans to buy electric vehicles and automakers to invest in new factories.<\/p>\n

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Sales of electric vehicles have been rising in recent years, partly because of a $7,500 tax credit from the federal government that helps lower the cost of buying one.<\/p>\n

But a budget bill that House Republicans released on Monday<\/a> would end that tax credit. Their proposal would also put new restrictions on other tax breaks that have encouraged automakers to invest tens of billions of dollars in new battery plants in the United States.<\/p>\n

By next year, the bill would do away with the $7,500 tax credit for buyers of new electric vehicles and a $4,000 credit that can be applied to the purchase of used electric cars and trucks.<\/p>\n

If signed into law, the change is likely to increase electric vehicle sales in the coming months as consumers race to take advantage of the tax credit before it goes away. But sales are likely to slow or fall once the credits end, analysts said.<\/p>\n<\/div>\n<\/div>\n

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\u201cIt\u2019s definitely going to impact adoption and slow it down significantly,\u201d said Stephanie Valdez Streaty, director of industry insights at Cox Automotive, a research firm.<\/p>\n

Cox expects electric vehicles to make up 10 percent of all new vehicle purchases this year. If Congress makes no changes to the tax credits, that number should climb to almost a third by 2030, the firm estimates.<\/p>\n

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A House Republican bill introduced this week would do away with tax credits that had encouraged Americans to buy electric vehicles and automakers to invest in new factories.Sales of electric vehicles have been rising in recent years, partly because of a $7,500 tax credit from the federal government that helps lower the cost of buying one.But a budget bill that House Republicans released on Monday would end that tax credit. Their proposal would also put new restrictions on other tax breaks that have encouraged automakers to invest tens of billions of dollars in new battery plants in the United States.By next year, the bill would do away with the $7,500 tax credit for buyers of new electric vehicles and a $4,000 credit that can be applied to the purchase of used electric cars and trucks.If signed into law, the change is likely to increase electric vehicle sales in the coming months as consumers race to take advantage of the tax credit before it goes away. But sales are likely to slow or fall once the credits end, analysts said.\u201cIt\u2019s definitely going to impact adoption and slow it down significantly,\u201d said Stephanie Valdez Streaty, director of industry insights at Cox Automotive, a research firm.Cox expects electric vehicles to make up 10 percent of all new vehicle purchases this year. If Congress makes no changes to the tax credits, that number should climb to almost a third by 2030, the firm estimates.We are having trouble retrieving the article content.Please enable JavaScript in your browser settings.Thank you for your patience while we verify access. If you are in Reader mode please exit and\u00a0log into\u00a0your Times account, or\u00a0subscribe\u00a0for all of The Times.Thank you for your patience while we verify access.Already a subscriber?\u00a0Log in.Want all of The Times?\u00a0Subscribe.<\/p>\n","protected":false},"author":1,"featured_media":27772,"comment_status":"close","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[6],"tags":[],"class_list":["post-27770","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-technology"],"_links":{"self":[{"href":"https:\/\/medexperts.pro\/index.php?rest_route=\/wp\/v2\/posts\/27770","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/medexperts.pro\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/medexperts.pro\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/medexperts.pro\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/medexperts.pro\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=27770"}],"version-history":[{"count":2,"href":"https:\/\/medexperts.pro\/index.php?rest_route=\/wp\/v2\/posts\/27770\/revisions"}],"predecessor-version":[{"id":27773,"href":"https:\/\/medexperts.pro\/index.php?rest_route=\/wp\/v2\/posts\/27770\/revisions\/27773"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/medexperts.pro\/index.php?rest_route=\/wp\/v2\/media\/27772"}],"wp:attachment":[{"href":"https:\/\/medexperts.pro\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=27770"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/medexperts.pro\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=27770"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/medexperts.pro\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=27770"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}