US Senate republicans seek to kill $7,500 EV tax credit
US Senate Republicans
on Monday proposed a tax and budget bill that would end the
$7
,500 tax credit on new electric vehicle sales 180 days after the measure is signed into law and immediately end the credit for leased EVs made outside North America.
Republicans have taken aim at EVs on a number of fronts, a u-turn from former President Joe Biden's policy that encouraged electric vehicles and renewable energy to fight climate change and reduce emissions.
The Republican Senate Finance Committee proposal would also end a $4,000
used-vehicle EV tax credit
90 days after the bill's approval.
The Senate Republicans propose to end, effective June 16, the $7,500 credit for leased vehicles that would also not meet the purchasing credit. Currently leased vehicles qualify without any restrictions on content or where they were assembled.
Leased vehicles could still get the tax credit for 180 more days after passage of the measure if they meet the same
stringent North American assembly, battery and critical mineral content rules as purchased vehicles.
The House of Representatives version would allow the $7,500 new-EV tax credit to continue through the end of 2025, and through the end of 2026 for automakers that have not yet sold 200,000 EVs before killing it.
The Republican Senate proposal would exempt interest paid on auto loans from taxes for new cars made in the US through 2028, but phases it out for individual taxpayers making more than $100,000 annually.
The House bill would impose a new $250 annual fee on EVs for road repair costs and a $100 for hybrid vehicles. The House bill would phase out EV battery production tax credits in 2028.
President
Donald Trump
last week signed a resolution approved by Congress to bar California's landmark plan to end the sale of gasoline-only vehicles by 2035, which has been adopted by 11 other states representing a third of the US auto market.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Mint
29 minutes ago
- Mint
Trump Meets With Security Team After Demanding Iran ‘Surrender'
President Donald Trump was meeting with his national security team in Washington on Tuesday to discuss the escalating Middle East conflict, according to people familiar with the matter, fueling fresh speculation that the US is on the verge of joining Israel's attack on Iran. Before gathering his advisers in the White House Situation Room, Trump posted a demand for Iran's 'UNCONDITIONAL SURRENDER' and warned of a possible strike against the country's leader, Ayatollah Ali Khamenei. 'We know exactly where the so-called 'Supreme Leader' is hiding. He is an easy target, but is safe there - We are not going to take him out , at least not for now,' Trump posted on social media. Israel also sought to ratchet up pressure on Iran, signaling it will intensify a campaign of air strikes that have targeted the country's nuclear facilities as well as military leaders and infrastructure. US weapons are seen as key to achieving a more complete destruction of the Islamic Republic's atomic program than anything Israel can do alone. The escalating war began with an Israeli attack late last week and has seen the sworn enemies trade missile salvos for five days. Trump departed early from the Group of Seven leaders meeting in Canada to deal with the crisis. German Chancellor Friedrich Merz, who's also attending that summit, told the country's public broadcaster ZDF that a US decision on whether to join the war militarily would come 'in the course of the day' and said that if Iran doesn't return to the negotiating table, then 'the complete destruction of Iran's nuclear program may be on the agenda.' Iran had been negotiating with the US for weeks over a nuclear deal before Israel launched its surprise assault. Israeli Defense Minister Israel Katz vowed to step up the campaign on Tuesday, saying the military will attack 'very significant targets in Tehran' and adding that residents should evacuate. Earlier in the day, a spokesman for the Israel Defense Forces said that, while it's too early to assess the success of the current campaign in Iran, strikes on the country's nuclear facilities are 'deepening' every day. Iran's state-run Islamic Republic News Agency cited the country's armed forces chief of staff as saying that it plans a 'punitive operation' against Israel and warned Israelis to evacuate Tel Aviv and Haifa. Trump earlier Tuesday posted on social media that 'we now have complete and total control of the skies over Iran,' crediting US military equipment for helping Israel gain air superiority. Katz didn't elaborate on what targets Israel might aim to hit and Trump hasn't spelled out his next steps. Vice President JD Vance told reporters Tuesday that Trump is 'making clear to the American people and the entire world that the US policy is that Iran can't have a nuclear weapon, and part of that is that they are not allowed' to enrich uranium, adding that 'there are many different ways and different options at the president's disposal for how to accomplish that policy goal.' US stocks declined on Tuesday as Trump played down the possibility of negotiations with Iran, fueling widespread fears the war will spread to other countries in the oil- and gas-producing region. Trump's exit from the G-7 followed another 24 hours of intense bombardments, with Iran firing ballistic missiles and Israel striking targets across the Islamic Republic, including the capital of Tehran. The USS Nimitz aircraft carrier strike group is sailing to the Middle East ahead of schedule, marking the first significant move of American military assets to the region since Friday. Reuters reported that the US military was deploying more fighters and other warplanes to the region. New satellite images suggest Israeli strikes damaged underground uranium-enrichment facilities at Natanz, Iran's primary nuclear-fuel production site, the United Nations nuclear watchdog said in a post on X. The International Atomic Energy Agency has yet to detect damage at Iran's other underground enrichment site in Fordow, according to the statement. Republican Senator Lindsey Graham of South Carolina, a longtime advocate of war against Iran, said he '100% supports' US participation in striking Fordow. 'I'm all in for destroying their nuclear program. You can't do it without destroying Fordow,' he told reporters in Washington. 'If it takes bombs, bunker-buster bombs, so be it. If we need to fly with Israel, so be it.' Graham added that 'the window for diplomacy has passed, we're in the land of force.' Israel has sought to draw the US — which has provided defensive support against Iranian missile fire — deeper into the conflict. Prime Minister Benjamin Netanyahu told ABC News on Monday that the countries share a common enemy in Iran, and that it's in America's interest to support Israel. Trump has left open the possibility of further talks on Iran's atomic activities after five earlier rounds, but continued to hammer the idea that Tehran is at fault for not having already agreed to a deal that would have prevented Israel's attacks. He told reporters that he 'may' send a high-level official, such as special envoy Steven Witkoff or Vance, to meet with Iran. Trump is 'telling Iran you can put a stop to this,' Missouri Republican Senator Josh Hawley said after speaking with the president on Tuesday. Israel said it saw a drop-off in Iranian fire on Tuesday, with a military spokesperson saying 'a few dozen' missiles had been launched since midnight compared with the hundreds seen over the weekend. Still, Israel's Oil Refineries Ltd. shut down its refinery after the complex was damaged and three employees were killed, the company said Monday. The site has a peak production capacity of close to 200,000 barrels of oil per day, with 70% of products distributed in the Israeli market, according to the company's website. Israeli petrol station chain Sonol, which has 245 gasoline stations in the country, warned Tuesday that the closure of the Haifa refinery will likely cause disruptions to fuel supply to its Israeli customers, according to the Globes newspaper. Long-standing tensions between Iran and Israel erupted into open fighting last week, when Israel launched surprise attacks on Iranian military and nuclear sites and killed senior commanders and atomic scientists. Since then, it has achieved air superiority over much of Iran, allowing it to bomb major cities and infrastructure at will. For Iran's government, the showdown poses a strategic dilemma. It can't risk appearing weak, yet its retaliatory options are shrinking. Proxy forces it supports across the region have been largely degraded by Israeli wars since Oct. 2023. More than 200 people have been killed in Iran by Israel's strikes, according to the last official tally from the Iranian government. In Israel, the government has said 24 people have been killed — the same number reported the day prior — and over 600 injured. Oil prices have climbed in the past week as the conflict escalated, raising concerns about a wider hit to the global economy. Many analysts say Iran has the ability to shut down the Strait of Hormuz, a key energy trade route. Qatar on Tuesday asked liquefied natural gas vessels to wait outside the strait until they're ready to load amid the escalating tensions. Two large tankers collided and caught fire near the strait early on Tuesday. The owner of one of them said the incident was 'unrelated to the current regional conflict.' With assistance from Erik Wasson, Natalia Drozdiak, Alisa Odenheimer, Jonathan Tirone, Dan Williams and Steven T. Dennis. This article was generated from an automated news agency feed without modifications to text.
Hindustan Times
43 minutes ago
- Hindustan Times
Ali Khamenei: Where is Iran supremo hiding amid Israel conflict? Report reveals key details
A new report revealed that Iran's Supreme Leader, Ali Khamenei, is hiding close to Tehran with his family amid the Iran-Israel conflict. This comes as President Donald Trump warned that the US knows 'exactly where' the supremo is hiding, further adding that his 'patience is wearing thin'. 'He is an easy target, but is safe there - We are not going to take him out (kill!), at least not for now. But we don't want missiles shot at civilians, or American soldiers. Thank you for your attention to this matter!' the president posted on Truth Social. Read More: Onboard flight, Donald Trump's 'a real end, not a ceasefire' remark amid Israel-Iran conflict Now, Iran International News cited two sources to report that Khamenei has moved to an underground bunker in Lavizan, located northeast of Tehran. The report further adds that all members of the Supreme Leader's family are with him. The media outlet cites sources to note that one of Ali Khamenei's two sons was recently transferred to a shelter. Meanwhile, Israel claimed on Tuesday that it had killed a top Iranian general. Iran did not comment on the reported killing of Gen. Ali Shadmani, whom Israel described as the most senior military commander in Iran. Shadmani was appointed last week to a chief-of-staff-like role as head of the paramilitary Revolutionary Guard's Khatam al-Anbiya Central Headquarters. His predecessor, Gen. Gholam Ali Rashid, was killed in an Israeli strike. Read More: Where is Mahmoud Ahmadinejad? New report on ex-Iran President surfaces amid Israel bombing Tel Aviv, as per local authorities, has killed at least 224 people in Iran. Tehran has retaliated by launching some 400 missiles and hundreds of drones at Israel. So far, 24 people have been killed in Israel. President Donald Trump met with his national security team in Washington on Tuesday to discuss the escalating Middle East conflict. The president had earlier in the day demanded Iran's 'UNCONDITIONAL SURRENDER'.
News18
43 minutes ago
- News18
'Force Putin To End Ukraine War': Zelenskyy's Message To Donald Trump From G7
Last Updated: Russia-Ukraine War: Zelenskyy made a direct appeal to Donald Trump, urging him to wield the influence he holds over Moscow to help bring an end to the war. In a strong message from the G7 Summit, Ukrainian President Volodymyr Zelenskyy called on US President Donald Trump to exert pressure on Vladimir Putin, warning that diplomacy is 'in crisis" and that Russia's war on Ukraine is escalating without consequence. 'Even if the American President @POTUS now does not apply strong enough pressure on Russia," Volodymyr Zelenskyy wrote on X (formerly Twitter), adding, 'The truth is – America still has the most global interests and the most allies… Together, we must continue urging President Trump to use the influence he really has – to force Putin to end this war." His statement follows one of the deadliest nights in Ukraine since the start of the full-scale invasion, with Russia launching a massive coordinated attack involving 440 drones and 32 missiles. At least 15 people were killed and 131 were injured, Zelenskyy said, as a ballistic missile tore through an entire residential building and Kyiv alone saw damage to nearly 150 apartment blocks. 'Diplomacy is in crisis," Zelenskyy warned, asserting, 'There is one clear reason – Putin has openly rejected every peace initiative." Zelenskyy Urges G7 Leaders To Support Ukraine He urged G7 leaders and allies to increase military and financial support, emphasizing Ukraine's urgent need for air defense systems and localized weapons production. He also flagged growing concerns over Russia's partnerships with Iran and North Korea, noting that upgraded Iranian Shahed drones are now being manufactured in North Korea. 'This is a threat not only to Ukraine," he said, adding, 'Our cities – and, therefore, yours." Zelenskyy made a direct appeal to Donald Trump, urging him to wield the considerable influence he holds over Moscow to help bring an end to the war. He credited Donald Trump with initially proposing a ceasefire and restarting diplomatic efforts but stressed that all such overtures have been stonewalled by the Kremlin. Reasserting that the war remains an unprovoked act of aggression by Russia, Zelenskyy warned against any erosion of clarity about who bears responsibility. 'We must not forget that," he said, calling for relentless pressure- diplomatic, economic and military- to force Russia toward peace. About the Author Mallika Soni When not reading, this ex-literature student can be found searching for an answer to the question, "What is the purpose of journalism in society?" Get breaking news, in-depth analysis, and expert perspectives on everything from geopolitics to diplomacy and global trends. Stay informed with the latest world news only on News18. Download the News18 App to stay updated! First Published: June 18, 2025, 00:15 IST
