430_July 8th_Spending Cut in Incentives for Electric vehicles

[Jessica]

The massive tax and spending cut bill passed by Congress ends federal tax incentives for electric vehicles.

Buyers have until September 30th to qualify for their federal tax credits on EV before they're terminated.

Before the bill passed new electric vehicles came with a $7,500 federal tax credit.

Used EVs included up to $4,000. 

But experts say there are still strong finance reasons to consider buying the vehicles even without those incentives.

If buyers consider lifetime fuel and maintenance savings, they say buyers will still come out ahead by buying an electric vehicle even without the federal tax credits.

I'm Lisa Dwyer.