7 things you need to know before you buy an electric car

Electric cars just got a big boost to make them more affordable

Electric cars are pretty expensive, though some of the cost can be offset by the $7,500 federal tax credit. Unfortunately, the credit did have its limits, and any automaker that got too popular stopped being eligible. Emphasis on “did,” because a Senate deal has been struck that will see that credit extended (via Bloomberg (opens in new tab)).

Senate Majority leader Chuck Schumer and Senator Joe Manchin have struck a deal that ends a deadlock on the Biden Administration’s climate plan — which will see $369 billion spent on climate and energy spending. Part of this plan extends the federal EV tax credit and means it will apply to “clean cars” that were previously ineligible.

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