The $7,500 tax credit that car shoppers can use for new EV purchases is set to expire at the end of September, according to the tax and spending bill that passed the House of Representatives on Thursday.

It is the end of the line for US electric vehicle tax credits. Sweeping tax and budget legislation approved by Congress on Thursday means $7,500 tax credits for buying or leasing new electric vehicles will end on Sept. 30, as well as a $4,000 used EV credit, that have helped juice green vehicle sales in recent years.

Originally introduced through President Biden's Inflation Reduction Act in 2022, the federal tax credit program, which was supposed to be in effect until 2032, was designed to bridge the cost gap between gas-powered cars and EV alternatives,