PHOENIX — Federal tax credits for electric vehicles are coming to an end in less than two weeks, marking a major shift for drivers and prospective buyers in Arizona and across the country.
The $7,500 federal tax credit for certain new electric vehicles, in place for 15 years, will expire at the end of September. A $4,000 credit for qualifying used EVs is also ending. The changes are part of legislation Congress passed earlier this summer, which is projected to reduce federal deficits by $190 billion over a 10-year budget window.
According to the Arizona Department of Transportation, the state ranks among the top 10 nationwide for registered EVs, with nearly 129,000 on the road. That number has surged by nearly 90,000 in the past four years.
In addition to losing federal tax incentives,