The House Of Representatives introduced a bill to phase out the federal EV tax credits, a key driver of EV sales and leases.
The bill aims to repeal the $7,500 federal clean vehicle tax credit after 2026, affecting manufacturers that have sold over 200,000 qualifying vehicles.
President Trump is likely to sign the bill if it passes, as he strongly opposes EV tax credits.
The future of the bill is uncertain as it still needs to pass both houses of Congress, facing possible challenges in the Senate.