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EV Tax Credit, Used Cars: Automakers’ Climate-Bill Takeaways

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President Biden Signs Inflation Reduction Act Into Law
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The $437 billion Inflation Reduction Act that President Joe Biden signed into law Tuesday focuses on climate, health subsidies and drought relief. The measure will bring big changes to the US auto industry, using incentives to nudge automakers to expedite production of so-called clean vehicles in an effort to meet environmental goals. 

There’s plenty in the fine print for automakers and their lobbyists to complain about. Chief among those concerns: restrictions that gradually limit the tax credits to vehicles that are assembled in North America and that contain batteries made from raw materials sourced only from countries with which the US has free-trade agreements.