Category: Inflation_Act_2022_Transportation Transport_KEY

In September of 2022, the leaders of the departments of Energy, Transportation, Housing and Urban Development, and the Environmental Protection Agency signed a historic memorandum of understanding (MOU) to enable the four federal agencies to accelerate the nation’s affordable and equitable clean transportation future. That MOU called for the agencies to release a comprehensive strategy for decarbonizing the transportation sector that will help guide future policy decisions, as well as research, development, demonstration, and deployment in the public and private sectors.

As sales of electric vehicles continue to surge, many new and prospective customers have questions about qualifying for federal tax credit on electric vehicles, especially now that a slew of new credits have been reinstated to US consumers (alongside their fair share of confusing and ever-evolving conditions)

Talks between the United States and the EU “moved the needle in order to get closer to a solution,” European Commission Executive Vice President Margrethe Vestager said.

Ford Motor Co (F.N) said on Thursday the U.S. Treasury Department should limit the definition of a “foreign entity of concern” to ensure more electric vehicles can qualify for up to $7,500 in consumer tax credits.

The Inflation Reduction Act of 2022 (IRA) will transform the U.S. energy sector through substantial investments that will lead us to roughly 40% emissions reductions by 2030. The historic passage of this legislation represents the largest investment in clean energy and climate action in U.S. history.

Democrats pushed through climate change legislation this year that earmarked tens of billions of dollars to create a U.S. supply chain for electric vehicles. Republicans and the states they represent are poised to cash in on much of the political and economic windfall.

And that’s not just because of the new Inflation Reduction Act. Many states also have incentive programs designed to get residents to buy electric vehicles. And there are all kinds of state and federal one-off endeavors designed to lay groundwork so you can actually use the EV when you buy it.

It’s been a big couple of weeks for electric vehicles. You may have heard about the Inflation Reduction Act (IRA) which includes the new federal EV tax credit and has now been signed into law by President Biden. The new EV tax credit has spurred confusion among interested consumers. We’d like to help answer what the IRA means for EV consumers over the coming days, weeks and months. If you’re interested in purchasing an EV, there are a few things you need to know.

Late last year President Joe Biden set the target of electric vehicles accounting for half U.S. automakers’ sales by 2030 — a crucial goal if the nation is going to achieve its climate goals under the Paris agreement.
To that end, he and Democratic allies in Congress recently expanded the $7,500 tax rebate for electric vehicles through the Inflation Reduction Act, moving beyond early adopters to all EV sales for the next decade.

The Biden administration on Wednesday announced it has approved the electric vehicle charging network plans submitted by 35 states, representing $900 million in investment for Fiscal Years 2022 and 2023.