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Will the US Congress eliminate the $7,500 EV tax credit by end of 2024?
4
Resolution / Starting Odds
Yes • 50%
No • 50%
Official legislative records from the US Congress
Story
Trump Administration Eyes Ending $7,500 EV Tax Credit Amid GOP's Shrinking Majority
Dec 2, 2024, 11:17 AM
The incoming Trump administration is considering eliminating the $7,500 electric vehicle (EV) tax credit, a move that would require Congressional approval. However, the Republican majority in the House of Representatives is expected to shrink to a razor-thin margin, potentially as small as one seat, creating significant challenges for advancing tax reforms. The EV industry is struggling to find Republican allies in Congress to preserve the tax credit, which could become a contentious issue in next year’s tax debates.
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Similar markets
Eliminated • 33%
Unchanged • 34%
Reduced • 33%
Increase EV prices • 25%
No significant change • 25%
Decrease EV production • 25%
Shift focus to gas-powered vehicles • 25%
Fully discontinued • 33%
Partially reduced • 33%
Unchanged • 34%
No • 50%
Yes • 50%
Inconclusive • 25%
Moderate success with some issues • 25%
Successful with positive impact • 25%
Unsuccessful with major issues • 25%
Major industry pushback • 25%
Positive industry response • 25%
No significant response • 25%
Minor industry pushback • 25%