New Jersey To Join Oregon, Soon Pausing EV Incentives Amid Crazy Demand via insideevs.com
Peter Peretzman noted that he's not sure if the state will aim to increase the program's funding for the upcoming fiscal year.
Oregon residents will soon face a similar situation, and other states may follow suit, especially those on the US West Coast, where EV adoption tends to be much higher than in most other areas of the country. Oregon will see its electric car rebate program pause next month since more people than anticipated have applied for the program, and the money is almost gone.Meanwhile, the new US federal EV tax credit offers up to $7,500 to customers purchasing a qualifying electric car.
The US tax credit also has strict new rules that make it so very few of the available electric vehicles on our shores qualify. While many more are expected to qualify in the future, the options are somewhat limited for a time. Buyers may be able to benefit from a $3,750 federal tax credit on a longer list of EVs, but with some state and local incentives drying up, that may not be enough for many buyers.
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