Breaking down Bidens new EV guidance
On Friday, the Treasury Department released long-anticipated eligibility guidance for the $7,500 electric vehicle tax credit in the Inflation Reduction Act. The rules could have major implications for the fight against climate change, Washington\u2019s rivalry with Beijing, and President Joe Biden\u2019s quest to bring manufacturing jobs back to the United States. POLITICO\u2019s James Bikales breaks down what the rules mean for consumers, automakers and U.S. allies. Plus, EPA approves a Biden-backed California rule that phases out diesel trucks.