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Is the Inflation Reduction Act's tax credit for electric cars enough? Americans share whether they're buying
Is the Inflation Reduction Act’s tax credit for EVs enough? Americans share whether they’re buying
The electric vehicle tax credit in the Inflation Reduction Act is not enough to convince consumers to buy a new electric car, some Americans in D.C. say.
The Inflation Reduction Act's electric vehicle tax credit won't be enough to convince many drivers to buy a new car, but it will be a nice bonus for those already planning to purchase one, Americans in the nation’s capital told Fox News.
"We're not going to even think about it because we don't have the income available to buy a new car, even with the incentive," David, told Fox News, adding that he thought it was a great idea for those who can afford it. "We have to get more electrical vehicles on the road, and every little bit helps."
President Biden signed the Inflation Reduction Act into law Tuesday. It earmarked $370 billion for energy and climate initiatives, including a tax credit of up to $7,500 for electric vehicles, though it's only available for a select list of cars assembled in North America.
Several people told Fox News the nation’s infrastructure does not make driving an electric vehicle practical.
MANCHIN ADMITS 'INFLATION REDUCTION ACT' WON'T TAME INFLATION FOR AMERICANS ANYTIME SOON