Donald Trump signed his administration’s “Big, Beautiful Bill” into law. One of the key changes for the automotive industry is that the bill eliminates the $7,500 federal tax credit for electric vehicles. EVs will become more expensive up front. The lease loophole, responsible for shockingly cheap deals on EVs, closes. The Slate pickup’s entire business model is under threat. The move may even impact Jeep Wrangler sales; the popular 4xe hybrid model had been eligible for the full $7,500 credit.
