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Home World USA

There’s ‘real risk’ Trump will axe funding in 2025, lawyer says

20 November 2024
in USA
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There’s ‘real risk’ Trump will axe funding in 2025, lawyer says
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Prospective car buyers considering an electric vehicle may need to act quickly to secure a Biden-era EV tax credit worth up to $7,500, as President-elect Donald Trump and Republicans are likely to eliminate the credit in 2025. The Inflation Reduction Act offers federal EV tax breaks through 2032, making it advantageous for consumers to purchase or lease an EV before the potential removal of the credit. Experts recommend taking advantage of the known entity of the tax credit now to reduce the risk of losing out on significant savings in the future.

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