Living With Climate Change: Want an EV? A first-ever $4,000 tax credit for used electric vehicles, and $7,500 for new, is nearing approval

by | Aug 5, 2022 | Stock Market

With a compromise spending bill that devotes more than $360 billion to climate change efforts, consumers for the first time will have a tax incentive to use toward previously owned electric vehicles. Newly built EVs also feature in the revived tax-credit proposals, which now look closer to weekend passage in the Senate after Democrats reached agreement Thursday. The final measure was expected to include assistance that Western senators have been trying to add to help their states cope with epic drought and wildfires, factors themselves that have been tied to fossil-fuel
combustion and its impact on climate change.

If passed — and the bill would r …

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