Electric cars got a big boost to make them more accessible to everyone

Electric cars are expensive, although some of the cost can be offset with a $7,500 federal tax credit. Unfortunately, credit had its limits, and any automaker that had earned it fame ceased to be eligible. Emphasis on “I did”, because a deal was struck in the Senate that would see the credit extended (via Bloomberg (Opens in a new tab)).

Senate Majority Leader Chuck Schumer and Senator Joe Manchin struck a deal that ends the deadlock in the Biden administration’s climate plan — which will see $369 billion in climate and energy spending. Part of this plan expands the federal tax credit for electric vehicles and means that it will apply to “clean cars” that were previously ineligible.


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