New EV tax credit proposal would raise it to $12,500: buy an EV now, or wait to see if it actually passes?
The federal $7,500 clean vehicle credit ended for cars bought after September 30, 2025, and now there is a proposal floating around to bring a credit back at up to $12,500 for union-made cars and drop the 200,000-vehicle cap per maker. I am looking at an EV in the next few months and my old car is fine for now. Ford EV sales just fell 71% in October and gas is over $4 a gallon in a lot of places, so the market is weird. Does anyone who follows this stuff think the proposal has a real shot, or is waiting just burning months for a bill that dies in committee?
1 answer
- Wait - the proposal is just a proposal
The $7,500 credit is already gone, and this $12,500 version is a proposal, not a law. It has to survive committee, a floor vote, and the automaker lobbying fight - Tesla and Toyota are against it, Ford and GM for it. If your current car runs fine, waiting costs you nothing but time, and buying now means paying full price for a car whose value could drop $12,500 overnight if the credit passes. Wait for an actual vote.