Good Luck Figuring Out What Your New Electric Car Will Actually Cost

  • 📰 TIME
  • ⏱ Reading Time:
  • 32 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 16%
  • Publisher: 53%

Energy Energy Headlines News

Energy Energy Latest News,Energy Energy Headlines

The government wants to make buying an EV easier. The Treasury's new tax guidance is making things more complicated

for people living near highways and in smog-choked cities. EVs were an answer, but it would be hard for manufacturers of those new vehicles to compete against legacy automakers, so the government gave them a leg up with a $7,500 tax rebate that EV buyers could recoup on their next filing.was passed last August. The $7,500 tax incentive featured again in Democrats’ landmark climate law, but with significant caveats.

“The law has several overlapping goals,” says Albert Gore, director of the Zero Emission Transportation Association . “Sometimes [they’re] all aligned, and other times in competition with each other.”at the behest of West Virginia Senator Joe Manchin, have been the source of a major headache.

Congress wrote those restrictions, but it’s the job of the Treasury Department, and by extension the Biden Administration, to actually implement them. That gives the President space for some bureaucratic tinkering in how the IRA mandates go into effect, and they’ve used that to soften the blow of the restrictions.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

Being a progressive means ignoring history and human nature. How anyone can be surprised that the bill isn't being implemented the way they intended (or claim to have intended) must be new to massive government bureaucracy.

Alternate energy just isn't ready. 🤷🏻

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 93. in ENERGY

Energy Energy Latest News, Energy Energy Headlines