Biden administration wants to shell out $100 billion to subsidize consumers to buy electric cars

The latest electric vehicle rebate incentives are part of the Biden administration’s proposed $2.3 trillion infrastructure and jobs plan, which could provide a huge boost to the business of U.S. automakers, particularly General Motors and Tesla, which no longer enjoy the $7,500 per vehicle credit after selling more than 200,000 all-electric vehicles.

This Biden administration plan also calls for a $20 billion investment in electric school buses, $25 billion for zero-emission commuter vehicles, and $14 billion in other tax incentives.