California Governor Gavin Newsom is considering offering state tax rebates for electric vehicle (EV) purchases if the federal EV tax credit is eliminated by the incoming Trump administration. The proposed program would be a new version of the state’s successful Clean Vehicle Rebate Program, which saved 456 million gallons of fuel by funding 594,000 cars before being phased out in 2023. The money for the rebates would likely come from the Greenhouse Gas Reduction Fund, which is funded by polluters under the state’s cap-and-trade program.
California has already sold over 2 million zero-emission vehicles, making it a leader in clean vehicles. The new rebate program would aim to promote innovation and competition in the zero-emission vehicles market, although details on how much it would cost and how the rebates would work have not yet been released. Governor Newsom is expected to provide more information about the possible rebate program later on Monday. The defunct Clean Vehicle Rebate Program had offered rebates of up to $2,500 on electric cars.
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