Senate Strikes Deal that Includes EV Tax Credits
The Senate has reached a deal on a broad $369 billion legislative package for climate and energy spending. The legislation means carmakers will be able to continue offering $7,500 in tax credits for the purchase of new clean cars. The policy includes restrictions on countries where minerals can be extracted and processed and requires batteries to be largely manufactured or assembled in North America.
For the first time, consumers who buy clean cars at registered dealers would be allowed to receive discounts at the point of sale that are equal to the value of their credits. Used clean car buyers would also be eligible to receive $4,000 for the first time.