Transportation Secretary Sean Duffy isn't holding back his enthusiasm about redirecting federal dollars away from electric vehicle programs. President Donald Trump signed a funding bill on Tuesday that yanks over half a billion dollars from EV-related initiatives, and Duffy couldn't be happier about it.
Transportation Secretary Celebrates $500M Cut to EV Programs as Trump Signs Shutdown-Ending Bill
Get Market Alerts
Weekly insights + SMS alerts
Pulling the Plug on EV Funding
Taking to X on Tuesday, Duffy celebrated Trump's move to cut over $503 million from "failed EV programs and instead use that funding for BIG, BEAUTIFUL infrastructure," as he put it. The cuts target the National Electric Vehicle Infrastructure program, which was originally designed to build out EV charging stations across the country.
Duffy also cheered the ban on mask mandates for public transportation and highlighted over $200 million being allocated to truck parking facilities to improve safety for truckers hauling American goods.
Shutdown Averted, For Now
These funding changes are part of Trump's signature on a massive $1.2 trillion package that stopped a partial government shutdown in its tracks. The bill barely squeaked through the House with a 217-214 vote and covers 11 annual appropriations bills running through September 30.
There's a twist though: Department of Homeland Security funding only extends through February 13, following the fatal shooting of two U.S. citizens by federal agents in Minneapolis during anti-Immigration and Customs Enforcement protests.
California Takes the Opposite Road
While Washington cuts EV funding, California is doubling down. Governor Gavin Newsom recently unveiled plans for a $200 million incentive package targeting first-time EV buyers in the state.
The proposal includes an interesting requirement: participating automakers would need to match government incentives (amounts still to be determined) for EVs priced under $55,000, as well as SUVs, pickup trucks, and vans under $80,000. It's essentially asking the industry to put its money where California's policy ambitions are.
More News

Oil Breaks $100 on Iran Strike Fears as Energy ETF XLE Hits an All-Time Record

The Average Stock Is Crushing the S&P 500 by the Most Since 2009: Is the Rotation Just Getting Started?

Tech-to-Defensive Rotation, GM Stock Logs Worst Week Since 2023: This Week on Wall Street

Trump Loosens 50% Canada Tariffs Days Before Midterms as Susan Collins Fights for Her Seat

First Russian Diesel Tanker Heads to New York Under Trump-Putin Deal as Fuel Prices Stay High

American Express Lifts Profit Outlook, But 3,500 Layoffs and a $350 Million Penalty Steal the Show

The $1.3 Trillion Equity Rush: Record Flows, but the Money Is Moving Around

TSMC Stock Climbs As Moody's Hands Out An Upgrade And The Chipmaker Quietly Rethinks Rare Earths
Get Market News Alerts
Real-time alerts on price moves, news, and trading opportunities.
Join 20,000+ investors. No spam, ever.
Featured Articles
View all news
Oil Breaks $100 on Iran Strike Fears as Energy ETF XLE Hits an All-Time Record

The Average Stock Is Crushing the S&P 500 by the Most Since 2009: Is the Rotation Just Getting Started?

Tech-to-Defensive Rotation, GM Stock Logs Worst Week Since 2023: This Week on Wall Street

Trump Loosens 50% Canada Tariffs Days Before Midterms as Susan Collins Fights for Her Seat

First Russian Diesel Tanker Heads to New York Under Trump-Putin Deal as Fuel Prices Stay High

American Express Lifts Profit Outlook, But 3,500 Layoffs and a $350 Million Penalty Steal the Show

The $1.3 Trillion Equity Rush: Record Flows, but the Money Is Moving Around






