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The Great American EV Fire Sale Is About to Begin
President Trump’s “One Big Beautiful Bill” just wiped out key clean energy subsidies. If you want that $7,500 EV discount, act fast.
President Donald Trump’s “One Big Beautiful Bill” has officially passed Congress, and with it, a countdown that will kill the popular $7,500 federal tax credit for new electric vehicles. But one of its most immediate and tangible impacts is a full scale assault on clean energy incentives, and walks back some of the progress made under the Inflation Reduction Act, which previously supercharged EV sales with consumer-friendly subsidies. For a company like Tesla, which earned substantial profits in recent years from selling these credits to less compliant automakers, it means a key revenue stream has vanished.
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