California to Offer $7,500 EV Rebates if Trump Ends Federal Tax Credit, Says Newsom

Nov 25, 2024, 03:22 PM

President-elect Donald Trump and Congressional Republicans are considering the repeal of a $7,500 federal tax credit for electric vehicles (EVs), which could have significant implications for the EV market. In response, California Governor Gavin Newsom has announced plans to revive the state’s Clean Vehicle Rebate Program, offering rebates to eligible residents if the federal credit is eliminated. This move aims to support clean vehicle adoption and counteract potential federal rollbacks on EV incentives. The funding for these state rebates would come from California’s Greenhouse Gas Reduction Fund, paid into by polluters.