Electric Cars and Plug-In Hybrids That Qualify for Federal Tax Credits (For Now)
If you’re thinking about buying an electric car or a plug-in hybrid, the federal EV tax credit of up to $7,500 may expire at the end of the year. If that happens, new and used EVs and PHEVs would likely become more expensive for consumers. In addition, owners of EVs and hybrids might have to pay new federal taxes on their vehicles. . The change is due to a new budget reconciliation bill, also known as the One Big Beautiful Bill Act. I...