The new climate bill brokered by Sens. Chuck Schumer (D-NY) and Joe Manchin (D-WV) includes the restoration of a tax credit for electric vehicle makers that can be passed on to consumers.

The $7,500 clean vehicle credit for new electric vehicles would no longer be limited to manufacturers who have sold under 200,000 electric vehicles. The proposal would benefit carmakers, such as Telsa, that have already sold 200,000 vehicles and would allow them able to cut the price of their vehicles for customers under this wider tax credit.

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