Biden administration limits eligibility for EV tax credits.
TL;DR Summary
The Biden Administration regulators have announced that they are rewriting last year's Inflation Reduction Act to allow more electric vehicles to qualify for subsidies. West Virginia Sen. Joe Manchin had insisted on numerous conditions for the IRA's $7,500 EV tax credit, including an income limit of $150,000 for individual EV buyers and price caps for vans, SUVs, pickups, and sedans. The new regulations will essentially rewrite the law to allow more EVs to qualify for subsidies, which Manchin had feared would happen.
Topics:business#biden-administration#electric-vehicles#inflation-reduction-act#joe-manchin#politics#subsidies
- Opinion | A Biden Bait-and-Switch on Electric Vehicles The Wall Street Journal
- Biden admin moves to limit EV tax credit eligibility in potential blow to climate agenda Fox News
- New Rules Will Make Many Electric Cars Ineligible for Tax Credits The New York Times
- The $7500 tax credit to buy an electric car is about to change yet again NPR
- Biden tries to thread the electric car needle POLITICO
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