The Inflation Reduction Act of 2022 changes the eligibility rules to claim a tax credit for clean vehicles. The act is an ongoing, very aggressive campaign to revolutionize the automobile industry and get consumers to ditch combustion engine, gasoline-powered vehicles in favor of EVs – electric vehicles. Could this tip consumers to move to electric vehicles?
The Biden administration has announced that by 2030 50% of all vehicles sold in the U.S. will be electric. That’s a heavy lift, since last year only 5.8% of vehicles sold were electric. In this program, we discuss whether this ambitious goal is attainable.