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Biden plan calls for $100 billion in new EV consumer rebates: email

Stock MarketsApr 07, 2021 04:45PM ET
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© Reuters. FILE PHOTO: An electric vehicle fast charging station is seen in the parking lot of a Whole Foods Market in Austin

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.

Biden plan calls for $100 billion in new EV consumer rebates: email
 

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George Jetson
George Jetson Apr 07, 2021 6:38PM ET
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Yep. I agree. You are right. United States Steel is going to $50 mid year. Great pick! $X
 
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