The Biden administration gave new EV buyers in the U.S. a $7,500 tax credit with every purchase of a qualified electric vehicle, while those looking at eligible used EVs will get a $4,000 tax credit. This policy, part of the Inflation Reduction Act (IRA) of 2022, is designed to encourage EV adoption among the general population in the U.S., although some experts say that it’s actually hurting the long-term market penetration of electric cars. Nevertheless, if you’re in the
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