The new climate, tax and health law signed by President Biden extends a credit for electric vehicle buyers. But there are new strings attached that kick in at different times.
Carmakers may need several years to revamp their supply chains to meet new rules, but the legislation is still seen as a win for electric vehicles.
There may be better ways to slow global warming, but this legislation is a big step forward.
Battery-powered vehicles are considered essential to the fight against climate change, but most models are aimed at the affluent.
The Inflation Reduction Act includes tax deductions for energy-efficient home upgrades and a tax credit for electric vehicles.
The maker of luxury electric cars that hopes to challenge Tesla struggled to get parts and build vehicles in the second quarter.
Along the way to the $369 billion package, the West Virginia senator secured an array of concessions for his state and for the fossil fuel industry.
The Senate’s proposal aims to accelerate electric car sales and promote domestic battery manufacturing at China’s expense.
The $369 billion climate and tax bill would affect every aspect of U.S. energy production, with incentives for producers and consumers to move away from fossil fuels.
The announcement Wednesday of an agreement in the Senate almost instantly reset the role of the United States in the global effort to fight climate change.