The Big Beautiful Bill eliminates tax credits for energy vehicles (EVs), including a $7,500 credit for new EVs and a $4,000 credit for used EVs.
Consumers have until September 30 to take advantage of the credits, with income restrictions for different filers to qualify.
Although upfront costs for EVs are higher than gas-powered cars, long-term savings on fuel, maintenance, and repair make them a financially viable option.
Credit cards offering cash back or points for EV charging provide additional savings, and options like the FutureCard Visa® Debit Card* offer significant benefits for eco-friendly purchases.