At 12:00 p.m. ET on Jan. 20, Joe Biden was officially sworn in as the 46th President of the United States. With the newly minted administration, Biden now has the power to iron out and execute big changes for the automotive industry, transportation ecosystems and the overall US infrastructure.
The Biden administration aims to restore the full federal tax credit for electric vehicle purchases, though we’ll likely see other changes to the program along the way. In addition to giving automakers like General Motors and Tesla tax credits once again — the two exhausted theirs at the start of 2020 — the Biden administration will also pursue direct-consumer rebates to encourage American car buyers to swap out fossil-fuel-powered cars for zero-emission vehicles.
However, Biden wants the federal government to set an example. As part of the administration’s Buy American campaign, Biden plans to include new government fleet vehicle purchases in a $400 billion procurement investment for American-made goods. This should encourage US businesses to adopt electric fleet vehicles, as well, and will include a proposal to convert all 500,000 US school buses to battery power by the end of this decade.
Read the article at MSN
