EV Tax Credits Are Working—Cutting Them Now Would Be a Costly Mistake
Plug in America
JUNE 25, 2025
EV tax credits work Industry-wide, 87% of all EVs purchased or leased in 2024 received the federal EV tax credit. Accessing the full amount of the credit at the point of sale saves consumers money on finance charges, makes the tax credit available to those who don’t pay much in income taxes, and makes both new and used EVs more accessible.
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