The $7,500 federal electric vehicle (EV) tax credit was not cut in the combined tax package legislation that Congress released on Friday. Below is the exact language , page 568 of the 1097 page document. You will note that for the present law "Qualified vehicles are subject to a 200,000 vehicle-per manufacturer limitation. Once the limitation has been reached the credit is phased down over four calendar quarters."
The conference agreement does not include the House bill provision.
3. Repeal of credit for plug-in electric drive motor vehicles (sec. 1102(c) of the House bill and sec. 30D of the Code)
A credit is available for new four-wheeled vehicles (excluding low speed vehicles and vehicles weighing 14,000 pounds or more) propelled by a battery with at least 4 kilowatt-hours of electricity that can be charged from an external source.80 The base credit is $2,500 plus $417 for each kilowatt-hour of additional battery capacity in excess of 4 kilowatt-hours (for a maximum credit of $7,500). Qualified vehicles are subject to a 200,000 vehicle-per manufacturer limitation. Once the limitation has been reached the credit is phased down over four calendar quarters.
The provision repeals the credit for plug-in electric drive motor vehicles. Effective date.−The provision is effective for vehicles placed in service in taxable years beginning after December 31, 2017.
No provision. 79 Sec. 22(e)(3).
80 Sec. 30D.