California to offer EV rebates if Trump kills $7,500 tax credit, Newsom says

California plans to offer state tax rebates for electric vehicle purchases if the incoming Trump administration eliminates the federal EV tax credit, as stated by Gov. Gavin Newsom, D. Newsom intends to propose a new version of the Clean Vehicle Rebate Program, which funded 594,000 cars and saved 456 million gallons of fuel before being phased out in 2023.
The new rebate program could be financed by the Greenhouse Gas Reduction Fund, which is funded by polluters under the state’s cap-and-trade program, according to Newsom’s statement.