The Inflation Reduction Act, passed in the summer of 2022, includes updated tax credits for electric vehicles (EVs). On January 1, 2023, the tax credits for used and commercial EVs went into effect. Nafisa Lohawala, a fellow at Resources for the Future, examines what’s new about the EV tax credits in the Inflation Reduction Act and how the updates to the credits might affect the US market for EVs in the near and long term.
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