WASHINGTON (Reuters) - The Biden administration's $174 billion proposal to boost electric vehicles calls for $100 billion in new consumer rebates and $15 billion to build 500,000 new electric vehicle charging stations, according to a Transportation Department email sent to congressional staff and seen by Reuters.
The new EV rebates, part of a $2.3 trillion infrastructure and jobs proposal, would be a potential big boost to U.S. automakers, especially General Motors (NYSE:GM) and Tesla (NASDAQ:TSLA) Inc, which no longer qualify for $7,500 rebates after they sold more than 200,000 zero-emission models.
The plan also calls for $20 billion for electric school buses, $25 billion for zero emission transit vehicles and $14 billion in other tax incentives.
Politico reported the email earlier on Wednesday.