Tax credits for buying an electric vehicle have been a huge selling point to get people to switch over from their gas-powered counterparts. Luckily, the EV credits are sticking around after President Joe Biden recently signed the Inflation Reduction Act into law.
The new law includes a number of tax, healthcare, and climate initiatives, including an updated version of the tax credits you can claim for purchasing an EV. The most significant change is that only EVs that had final assembly done in North America would qualify. This could narrow options, or potentially persuade more automakers to shift over operations to the U.S. or its neighbors.
