FEMA faces a $1.3 billion shortfall ahead of hurricane season, urging residents to prioritize flood insurance for protection.
Biden’s Electric Vehicle Tax Credit Saves Americans $1 Billion, Spurs Emission-Free Car Sales
According to the article in The Hill, the Biden administration announced that Americans have saved $1 billion from a tax credit for electric vehicles since January 1. They said over 150,000 emission-free cars were sold this year, saving owners about $1,750 a year on repairs and fuel. That adds up to around $262 million in savings for all the cars sold this year.
Treasury Secretary Janet Yellen said this discount is giving people more choices and helping businesses grow. The tax credit is part of a plan to encourage more people to buy electric cars and reduce pollution from traditional cars. It also includes rules to make sure materials used in the cars come from responsible sources, blocking imports from countries like Russia and China.
READ ALSO: $5.5 Million In Tax Credits: Revolution Mill’s Transformation From Abandoned Textile Factory To Thriving Hub Of Business And Community Life
$1 Billion Saved: Biden’s Electric Vehicle Tax Credit Fuels Consumer Savings (PHOTO: The Hill)
Biden Administration Boosts American Manufacturing with EV Material Exemptions and China Tariff Increases
Furthermore, earlier this year, the administration allowed exemptions for certain materials and increased taxes on electric cars imported from China. They want to boost American manufacturing and make sure the country is less dependent on foreign supplies. Despite challenges like making sure the power grid can handle more electric cars, the Biden administration is focused on making it easier and cheaper for people to choose electric vehicles.
READ ALSO: $1.3 Billion Shortfall: Federal Emergency Management Agency Faces Dire Financial Situation As Hurricane Season Looms – Urging Residents To Prioritize Flood Insurance!
