Overview

• The legislation imposes a firm September 30, 2025 cutoff for the $7,500 new electric vehicle credit and ends the $4,000 used EV credit while immediately disqualifying leased EVs that fail North American sourcing requirements.
• Wind and solar projects must be operational by the end of 2027 to qualify for production and investment tax incentives under the revised package.
• New excise taxes will apply to renewable energy projects that source components from China in an effort to address supply-chain and national security concerns.
• The bill promotes coal development, redirecting federal resources toward traditional energy sectors beyond oil and gas.
• Senate Democrats, moderate Republicans including Sen. Thom Tillis and industry groups warn that the rollbacks could undermine investment, raise energy costs and cost American jobs.