Trump’s One Big Beautiful Bill seen as a setback for EV adoption in the US
While the OBBBA does not eliminate the 45X production credit, it introduces a definitive end date, with phase-down scheduled to begin in 2030
On July 4, US President Donald Trump signed the One Big Beautiful Bill Act (OBBBA) into law with an aim of cutting down government spending to address the US' rising national debt, reducing tax liabilities for the working middle class and driving down energy costs with a massive expansion of domestic oil and production capacity, among several other key goals.
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