Tesla's Cybertruck just got a huge discount — but it might not last for long

The Tesla Cybertruck has just become more affordable, but you might want to hurry if you want to take advantage of the savings. According to Teslarati, Tesla has announced that the Cybertruck is now eligible for tax credits through the Inflation Reduction Act.

Although it will take an act of Congress to do so, the Trump administration reportedly plans to do away with the program, so get the tax credit while you can.

The Cybertruck joins a long list of new electric vehicles eligible for the tax credit worth up to $7,500. The tax credit can either be administered at the point of sale or taken off your taxes, but it's not as simple as just buying a new EV. There are certain parameters that must be met to qualify, and it can get quite complicated.

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As for the Cybertruck, the $7,500 tax credit applies to both the new dual-motor model and the soon-to-be-released single-motor model, which has yet to be priced. The dual-motor model starts at $79,990, just under the $80,000 threshold EVs must meet to be eligible for the tax credit.

The Cybertruck is joined by other Tesla models, including the Model 3, Model Y, and Model X.

The EV tax credit could make EVs more affordable for some, which could lead them to consider making their next car an EV. This would go a long way toward reducing carbon pollution, which threatens the health of individuals and is also one of the driving forces behind the planet overheating, causing extreme weather that threatens lives and the global food supply.

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According to Teslarati, Tesla CEO Elon Musk seems to believe the company would benefit from the tax credits being eliminated because other EV manufacturers "are too reliant on the $7,500 discount to sell units." However, nearly all of the new EVs eligible for the tax credit are already much cheaper than the Cybertruck and priced competitively with other Tesla models that are also eligible.

For now, the tax credit is in place, and not everyone is happy about it.

One person commented, "Tax the poor to give the rich a break on an $80,000 car. Seems evil," to which someone replied, "It should be tax the ICEs (Big Oil) to get a break on EVs but for now, Big Oil is getting billions in subsidies and incentives with impunity."