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Sales of electric vehicles in the United States are almost certain to tumble when the $7,500 federal tax credit for EV buyers expires on October 1. But where prices go is less certain.
The tax credit, passed by the Biden administration in 2022 to support EVs, is going away Wednesday as part of President Donald Trump’s broad spending and tax bill. The loss will cut into demand for EVs, which means prices in real terms will immediately rise — a concept not lost on the many consumers who rushed to buy EVs in August and September.
That s
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