October 6, 2023 Starting in January Inflation Reduction Act Provision Will Allow Consumers to Transfer Credit to Car Dealer, Reducing Purchase Price of New and Previously Owned Clean Vehicles at Time of SaleWASHINGTON – As part of Bidenomics and the Biden-Harris Administration’s Investing in America agenda, the U.S. Department of the Treasury and the Internal Revenue Service (IRS) today released guidance that will lower costs for consumers and help car dealers grow their businesses by increasing access to Inflation Reduction Act credits at point of sale for new and previously owned clean vehicles. Researchers have found that consumers overwhelmingly prefer an immediate rebate at point of sale.Under the Inflation Reduction Act, consumers can choose to transfer their new clean vehicle credit of up to $7,500 and their previously owned clean vehicle credit of up to $4,000 to a car dealer starting January 1, 2024. This will effectively lower the vehicle’s purchase price by
India’s per capita coal emissions have increased by 29% in the past seven years, but it is not the worst, according to a recent analysis by global energy think tank Ember. Australia and South Korea were the top two coal power polluters per capita among the G20 in 2022.
"We will increase our efforts to implement the commitment made in 2009 in Pittsburgh to phase-out and rationalise, over the medium term, inefficient fossil fuel subsidies that encourage wasteful consumption and commit to achieve this objective, while providing targeted support for the poorest and the most vulnerable," the G20 Declaration read.
Phasedown of unabated fossil fuel did not find space in the New Delhi Declaration, facing opposition from “developing countries”, especially Saudi Arabia, Russia and Turkiye, according to a source aware of the matter. However, phasedown of unabated coal power was agreed upon after a nod from India, the only country opposing it at the Sherpa meet this week. The text on this was taken straight from the Bali declaration.