President Trump signed an executive order on Jan. 20 titled “Unleashing American Energy.” It calls for an immediate pause on disbursing funds under the Inflation Reduction Act of 2022 until agency heads submit reports on the funds. It also calls for eliminating “the electric vehicle (EV) mandate.” (The federal government doesn’t mandate that consumers buy certain types of cars, but an EV tax credit of up to $7,500 is available.) Trump says he wants to revoke the clean vehicle tax credit to level “the playing field for consumer choice.” The credit and financial subsidies provided to the EV industry by the federal government are widely associated with higher vehicle sales in recent years.
Our Blog 