That means buyers can combine existing tax credits with the deep discounts on offer over the next three months. Hours after Newsom announced his proposal Monday, Bloomberg News reported that his office planned to exclude Teslas from any state rebate program, citing an idea to limit the proposed aid based on automakers’ EV market shares. The current federal tax credit also applies to leases, and some dealerships are exploiting a loophole that allows EV lessees to qualify for the full $7,500 credit without meeting income or manufacturer requirements. In a recent Edmunds analysis of mid-priced vehicles leased this year, the average monthly payment for EVs when factoring in tax credits was $428, far lower than the $572 for vehicles with gas engines. “If the tax credit goes away and it’s a significant amount that’s being utilized by dealers, you’ll have them rather upset for a while,” Drury said.

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