Automotive News reports Ford and General Motors have been working with dealers to secure an unknown number of $7,500 federal tax credits for EV shoppers before they expire. +

California Gov. Gavin Newsom now says there will be no state-funded replacement for the expiring $7,500 federal tax credit for EV buyers, reneging on a promise he made in November. +

Alliance for Automotive Innovation’s John Bozzella says the One Big Beautiful Bill Act’s unexpectedly rapid phaseout of the federal EV tax credit will slow adoption and hurt consumers. +

Automotive News’s John Huetter details the myriad benefits President Donald Trump’s One Big Beautiful Bill brings to dealership owners, starting with “bonus” depreciation for floorplanned units. +

In a special July 4 ceremony at the White House, President Donald Trump signed the One Big Beautiful Bill Act into law, cementing the administration’s taxation strategy and budget priorities. +