New EV tax credit may not apply to current electric vehicles

These and other requirements were added to gain a significant vote for West Virginia Senator Joe Manchin. He stopped previous versions of the bill from including stronger climate clauses and argued for drastic changes in subsequent negotiations.

important subjects: What do we know about how long it will take auto companies to adapt to these new rules and bring more fully qualified vehicles to market?

McFarland: It’s hard to tell how long it will take. Depends on many factors. What changes will they (car companies) bring? How does the federal government measure which vehicles qualify? There’s quite a gray area right now.

Also, it can be expensive for automakers to make certain changes. As such, they need to weigh the economic benefits (making vehicles eligible for EV credits).

important subjects: What do we know about how long it will take for these credits to significantly reduce the number of carbon-emitting vehicles on the road?

McFarland: EVs are growing, but they’re still a small part of our fleet. Dramatic changes will be years away.

Gas prices are falling. Is that good news?

Another thing that could hinder EV adoption is the fact that gas prices have continued to fall from their record highs earlier this summer.

While this is good news for consumers struggling to cope with inflation, it could be bad news for the environment.

The ups and downs of the economy are still incomprehensible.

“The recession obsession has eased a bit over the past 10 days or so, amid continued signs that labor market strength, falling gas prices and runaway inflation may be peaking,” Lomans said. I wrote.

Lower gasoline prices allow consumers to spend more money. They demonstrate frugality to get value for money.

But she said polls still show that “people feel pretty bad about the economy.”

So far, it may be high-income earners that are underpinning the continued consumer momentum.

The metaphor used by CNN’s John King in “Inside Politics” was like a seesaw. Mortgage rates have fallen in the short term, suggesting inflation may be subdued, but home sales have also fallen.

One of the more pressing questions is how cautious optimism that inflation has fallen and the economy has weathered the worst will affect the political landscape.

Democratic optimism in November

Before speaking with Egan, King spoke with Amy Walter, publisher of the Cook Political Report (and my former boss at another news organization).

She says her optimism for the Democratic Party in November has increased, especially in polls for the Senate election, where the Democratic candidate is ahead of President Joe Biden’s dismal approval ratings.

Cook Political Report changed its racial rating to downgrade Pennsylvania’s pivotal Senate election from “toss-up” to “skinny Democrat.”

She argued that major political conversations around abortion this summer and the renewed focus on former President Donald Trump could hurt Republicans in November.

“The focus is almost entirely on Republicans, and not in a good way,” Walter said.

Heading into the midterm elections, Republicans still hold a historic edge, but the president’s party almost always loses seats, leaving Democrats to hold majorities in the House and Senate. The end result could be a Republican majority after November, rather than the shelling some Democrats feared.

“There is widespread optimism in voter opinion of the economy,” Walter said. “It’s not going to turn around overnight. But at least if the trendline is moving in the right direction, it’s good for Democrats. The more Donald Trump is in the spotlight, the better it is for Democrats.”

But by then the economy could be Mr. Hyde’s, completely shifting the political balance.