Summary of the Article:
– Democrats and President Joe Biden revived the US EV tax credit for certain companies, such as Tesla, and extended it to cover used electric cars.
– An important change in the tax credit was the inclusion of a loophole that unintentionally allowed for significant benefits.
Author’s Take:
The revival and expansion of the US EV tax credit by Democrats and President Biden have provided a boost to the sale of electric vehicles, with unexpected benefits from a loophole further spurring the adoption of EVs.
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