Senate Republicans seek to end EV tax credit by September 30

June 28 (Reuters) - U.S. Senate Republicans late Friday released a revised a tax and budget bill that would end the $7,500 tax credit on new electric vehicle sales and leases on Sept. 30 as well as the $4,000 tax credit for used EVs.

The prior proposal would have ended the credit for new and used sales 180 days after the bill was signed into law and immediately ended the credit for leased vehicles not assembled in North America and meeting other requirements. Republicans have taken aim at EVs on a number of fronts, a reversal from former President Joe Biden's policy that encouraged electric vehicles and renewable energy to fight climate change and reduce emissions.