President Joe Biden's much-touted Inflation Reduction Act (IRA) is paying off big time, particularly for the many thousands of Americans who have bought electric vehicles this year. 
EV buyers have saved more than $1 billion in upfront purchase costs since January 1 thanks to the 2022 bill's revamped incentives for electric car purchases, the U.S. Treasury Department said on Wednesday. That $1 billion has helped facilitate the purchase of some 150,000 new and used clean vehicles this year. 

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Biden's Inflation Reduction Act Has Paid Out Over $1 Billion In EV Incentives This Year

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