On August 16, 2022, under the Inflation Reduction Act, the Biden Administration announced the most drastic change to transform the auto industry, since Henry Ford revolutionized the development of mass produced cars. This new legislation will help to usher in, as well as aid the country transition toward purchasing both new and used electric vehicles, making them more affordable.
The Inflation Reduction Act will also aid California Air Resource Board (CARB) drive, no pun intended, to ban the sale of all-new gasoline powered cars in their state by 2035. California announced this initiative in September 2020. The state has always been the forerunner in the United States, as it relates to auto emission controls and helping to keep the environment green. Other states are expected to follow suit, eliminating the ban of new gasoline powered vehicles too.
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