This might be a good time to buy an electric car. Trump wants to get rid of the EV tax credit—and it’s possible that he’ll convince the incoming Republican Congress to go along with that plan. But what does that mean if you buy an electric car early in 2025,

To be sure, the EV tax credit won’t disappear tomorrow. Trump doesn’t assume office until January. And he can’t do this alone; he’d need Congress to delete the credit as part of a wider tax bill. Those negotiations could stretch out for months.

Republicans have long opposed the $7,500 federal tax credit for electric vehicles contained in the Inflation Reduction Act (IRA). Now, it seems President-elect Donald Trump's transition team has made that a priority with plans to end the tax credit as part of broader tax reform legislation,