It is the end of the line for U.S. 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 September 30,

The massive tax and spending cut bill that Congress passed Thursday ends federal tax incentives for electric vehicles. Buyers have until Sept. 30 to qualify for the federal tax credits on EVs before they are terminated.

Sales are likely to dip below forecasts but not completely bottom out thanks to an array of new models and incentives from states and dealers.