U.S. Senate Republicans have introduced a revised tax and budget bill that aims to end federal tax credits for electric vehicles (EVs) by September 30, 2025. The legislation proposes terminating the $7,500 tax credit for new EV sales and leases, as well as the $4,000 credit for used EVs, ahead of the previously scheduled expiration at the end of 2025 or later. The bill, referred to as the "Big Beautiful Bill," has passed the Senate and the House of Representatives and is now awaiting President Trump's signature to become law. This accelerated timeline marks a shift from earlier plans under the Biden administration, which had intended for these incentives to continue until 2032. The termination of these federal incentives is expected to impact the electric vehicle market in the United States, affecting consumer purchasing decisions and the broader EV industry landscape.