Sightful Invest
  • Business
  • Investing
  • Politics
  • Stock
Top Posts
Comey to be arraigned in federal court after...
Comey pleads not guilty in court after indictment...
Houthi rebels test US ceasefire with deadly strike...
Kushner joins Witkoff for Gaza ceasefire talks as...
Cuomo rips Mamdani’s freebie ‘fantasy,’ says AOC proved...
White House escalates shutdown consequences as Democrats show...
Moderate Dem undercuts Jeffries on ObamaCare compromise as...
MIKE DAVIS: The Supreme Court betrayed again —...
Senate Democrats defy White House warnings, again block...
Greta Thunberg slammed for using image of starved...
  • Business
  • Investing
  • Politics
  • Stock

Sightful Invest

Business

Gov. Gavin Newsom says he will provide residents rebates if Trump removes EV tax credit

by admin November 26, 2024
November 26, 2024
Gov. Gavin Newsom says he will provide residents rebates if Trump removes EV tax credit

California Gov. Gavin Newsom said the state will provide rebates to residents if President-elect Donald Trump’s incoming administration does away with a federal tax credit for electric vehicles.

In a news release issued Monday, Newsom said he would restart the state’s Clean Vehicle Rebate Program, which provided financial incentives on more than 590,000 vehicles before it was phased out late 2023.

‘We will intervene if the Trump Administration eliminates the federal tax credit, doubling down on our commitment to clean air and green jobs in California,’ Newsom said. ‘We’re not turning back on a clean transportation future — we’re going to make it more affordable for people to drive vehicles that don’t pollute.’

The federal rebates on new and used electric vehicles were implemented in the Inflation Reduction Act that President Joe Biden signed into law in 2022. When Trump’s second term in office begins next year, he could work with Congress to change the rules around those rebates. Those potential changes could limit the federal rebates, including by reducing the amount of money available or limiting who is eligible.

Limiting federal subsidies on electric vehicle purchases would hurt many American automakers, including Ford, General Motors and the EV startup Rivian. Tesla, which also builds its automobiles in the United States, would take a smaller hit since that company currently sells more EVs and has a higher profit margin than any other EV manufacturer.

Newsom also announced earlier this month that he will convene a special session in December ‘to protect California values,’ including fundamental civil rights and reproductive rights, that he said ‘are under attack by this incoming administration.’

‘Whether it be our fundamental civil rights, reproductive freedom, or climate action — we refuse to turn back the clock and allow our values and laws to be attacked,’ Newsom said on X on Nov. 7.

A spokesperson for Trump did not immediately respond to a request for comment.

This isn’t the first time California will be taking action against the Trump’s administration concerning clean transportation legislation.

In 2019, California and 22 other states sued his administration for revoking its ability to set standards for greenhouse gas emission and fuel economy standards for vehicles, The Associated Press reported.

California sued the Trump administration over 100 times during his first term, primarily on matters including gun control, health care, education and immigration, the Los Angeles Times reported.

This post appeared first on NBC NEWS

previous post
Judge says he must still approve sale of Infowars to The Onion
next post
Can Starbucks fix long lines at its airport cafes?

You may also like

Judge blocks Albertsons-Kroger $25 billion supermarket merger

December 12, 2024

Comcast to announce the spinoff of cable networks,...

November 21, 2024

Peloton announces Ford exec, founder of Apple Fitness+...

November 1, 2024

SEC issues summons for Gautam Adani, nephew on...

November 26, 2024

Boeing delivers most airplanes since late 2023 after...

July 9, 2025

Procter & Gamble to cut 7,000 jobs as...

June 15, 2025

Google CEO Pichai struggled to navigate a pressure-filled...

December 31, 2024

Trump says it’s ‘highly unlikely’ he will fire...

July 18, 2025

Amazon’s Zoox robotaxi unit issues software recall after...

May 7, 2025

Claire’s, known for piercing millions of teens’ ears,...

August 8, 2025

Recent Posts

  • Comey to be arraigned in federal court after being indicted for alleged false statements, obstruction
  • Comey pleads not guilty in court after indictment on alleged false statements, obstruction
  • Houthi rebels test US ceasefire with deadly strike on cargo ship
  • Kushner joins Witkoff for Gaza ceasefire talks as Trump pushes peace plan: ‘Cautiously optimistic’
  • Cuomo rips Mamdani’s freebie ‘fantasy,’ says AOC proved socialism fails after killing NYC Amazon deal

    Sign up for our newsletter to receive the latest insights, updates, and exclusive content straight to your inbox! Whether it's industry news, expert advice, or inspiring stories, we bring you valuable information that you won't find anywhere else. Stay connected with us!


    By opting in you agree to receive emails from us and our affiliates. Your information is secure and your privacy is protected.

    Categories

    • Business (936)
    • Investing (3,147)
    • Politics (3,845)
    • Stock (4)
    • About us
    • Contact us
    • Privacy Policy
    • Terms & Conditions

    Disclaimer: sightfulinvest.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

    Copyright © 2025 Sightful Invest. All Rights Reserved.