GM And Ford Extend $7,500 EV Tax Credit Through Loophole

The $7,500 federal EV tax credit offered by the U.S. government in some form or another since 2008 was targeted for cancellation when the One Big Beautiful Bill Act was passed by Congress and signed into law by the President this summer. GM and Ford dealers are then offering those EVs for lease after September 30 with the $7,500 already incorporated into the lease rate. Ford told CarBuzz it will offer these lease deals through December 31, and customers must use Ford Credit for their vehicle financing. While most expect EV sales to begin declining sharply immediately, the loophole that GM and Ford have discovered may lessen the blow. Other automakers, however, are left to fend for themselves in a new world without the modern EV tax credit.