New Electric Car Tax Credits Are About to Radically Change Buying EVs

A number of electric vehicles should become more affordable, but watch out for a few circumstances.

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Big changes are coming to the federal electric car tax credit with congressional passage of the Inflation Reduction Act, changes that may make it eventually easier to own an EV, but initially harder to afford one. The details are more complicated than ever, but can make a huge difference in EV adoption. Here’s what you need to know as President Joe Biden prepares to sign the new legislation into law…

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