Bloomberg Law
July 29, 2022, 12:33 AM

New US Climate Deal Could Make EVs, Energy Bills Cheaper (1)

Zahra Hirji
Zahra Hirji
Bloomberg News
Todd Woody
Todd Woody
Bloomberg News
Kyle Stock
Kyle Stock
Bloomberg News
Ira Boudway
Ira Boudway
Bloomberg News

A surprise congressional budget deal announced Wednesday night boasts $370 billion in new spending for tackling climate change, including oodles of tax credits and rebates that could make it cheaper for people looking to drive and live more sustainably.

“This bill is going to open up a lot of avenues for Americans to contribute to the fight against climate change on an individual level,” said Senator Sheldon Whitehouse, a Democrat from Rhode Island, in an emailed statement. “Through a mix of rebates for electric appliances and efficiency retrofits and tax credits for technologies like heat pumps … it’s going to become a lot more ...

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