US SB541

Repeals the federal tax credit for new clean vehicles (Section 30D of the Internal Revenue Code), which currently provides up to $7,500 for qualifying electric vehicle purchases

Eliminates the tax credit for previously-owned clean vehicles (Section 25E), which offers up to $4,000 for used electric vehicle purchases

Repeals the credit for qualified commercial clean vehicles (Section 45W), ending tax incentives for businesses purchasing electric trucks, vans, and other commercial EVs

Removes electric vehicle recharging property from eligibility under the alternative fuel vehicle refueling property credit (Section 30C), excluding EV charging equipment from tax benefits

All provisions take effect 30 days after enactment, applying to vehicles purchased or under written binding contract after that date