Despite opposition from proponents who argue that clean vehicle incentives create domestic jobs and reduce emissions, Congress is likely to kill the EV tax credit soon, Bloomberg reported today.
“I think there is a better chance we kill it than save it,” House Speaker Mike Johnson, R-La., said in the interview with Bloomberg. “But we’ll see how it comes out.”
This follows similar developments in markets like Germany and even China, which have massively tapered incentives in recent years. However, in the U.S., the move to cut the tax credits—in part to help fund President Donald Trump's massive tax cut package—would come at a time when EV sales continue to grow.
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