The U.S. Senate just passed a bill that will invest $369 billion over the next ten years in strategies to combat climate change, including investments in renewable energy production and tax rebates for electric vehicle consumers.
If passed through the House, the bill would include $60 billion for tax credits for clean energy manufacturing and $30 billion for wind and solar production.
The goal is to incentivize industries that help lessen our country's fossil fuel dependency by providing tax credits for companies and consumers.
What's in it for consumers?
The historic bill would provide tax credits, giving consumers more green for going green.
Incentives for buying electric vehicles would include $4,000 tax credits for the purchase of used electric cars and $7,500 for purchasing new electric vehicles. Also, investors in wind and solar would be eligible for a 10-year consumer tax credit.
The bill would represent the largest investment in climate change that our country has made to date, and NVCT enthusiastically supports its passage.