Biden Administration Proposes $100 Billion in New Rebates For Electric Vehicles
The Biden administration’s $174 billion proposal to boost electric vehicles calls for $100 billion in new consumer rebates and $15 billion to build 500,000 new electric vehicle charging stations, according to a Transportation Department email sent to congressional staff and seen by Reuters. Automakers that have already sold more than 200,000 zero-emission models and no longer qualify for the full $7,500 rebates currently in effect, would potentially be eligible for new rebates under this program. The new EV rebates are part of the $2.3 trillion American Jobs Plan proposal, which also calls for $20 billion for electric school buses, $25 billion for zero emission transit vehicles and $14 billion in other tax incentives.
A fact sheet on the American Jobs Plan, issued by the White House, provides more detail: "He (Biden) is proposing a $174 billion investment to win the EV market. His plan will enable automakers to spur domestic supply chains from raw materials to parts, retool factories to compete globally, and support American workers to make batteries and EVs. It will give consumers point of sale rebates and tax incentives to buy American-made EVs, while ensuring that these vehicles are affordable for all families and manufactured by workers with good jobs. It will establish grant and incentive programs for state and local governments and the private sector to build a national network of 500,000 EV chargers by 2030, while promoting strong labor, training, and installation standards. His plan also will replace 50,000 diesel transit vehicles and electrify at least 20 percent of our yellow school bus fleet through a new Clean Buses for Kids Program at the Environmental Protection Agency, with support from the Department of Energy."