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The Inflation Reduction Act & EVs: What You Need to Know

Electric Vehicle Charging

Recently, Cantafio & Song PLLC produced a short educational YouTube video providing information about the Inflation Reduction Act and its potential impact on electric vehicles (EVs), including consumers, automakers, and auto retailers. The video features Cantafio & Song PLLC’s Owner, Partner, and Senior Attorney Ralph Cantafio.

Click HERE to watch the video!

In addition to his role at our firm, Attorney Cantafio is an Adjunct Professor in the Global Energy Management Program at The University of Colorado, Denver. He teaches Environmental, Regulatory, Legal, and Political Environment in the Energy Industry as well as Land Use and Energy Contracts. As an Adjunct Professor, Attorney Cantafio primarily educates graduate students. However, he has also lectured foreign professionals about oil and gas law as well as international contracts.

Attorney Cantafio has a wide-ranging and extensive education. He earned a Juris Doctorate from the University of Colorado School of Law, a Master of Science in Mineral Economics from the Colorado School of Mines, and a Master of Science in Global Energy Management from the University of Colorado, Denver.

What Is the Inflation Reduction Act?

The Inflation Reduction Act is a game-changing piece of legislation. It is set to have a massive impact on inflation in the U.S. The Inflation Reduction Act will affect several areas of our economy, including prescription drug costs, health care premiums, energy costs (including lower utility bills and clean energy incentives), in addition to the federal deficit.

How Will the Inflation Reduction Act Impact EVs?

The Inflation Reduction Act includes an electric vehicle tax credit. The EV tax credit is designed to encourage consumers to purchase EVs. There is a $7,500 tax credit available to consumers who purchase qualifying new electric vehicles, and a $4,000 credit available to those who purchase qualifying used EVs. Not only does the EV tax credit serve as an incentive for consumers, but also as an incentive for automakers to manufacture qualifying electric vehicles and retailers to use the tax credit as a selling point.

About Cantafio & Song PLLC

Cantafio & Song PLLC is headquartered in Denver, Colorado. We are a full-service boutique law firm that serves clients in Colorado and throughout the U.S. Our attorneys have over 150 years of combined legal experience and are highly capable of handling legal matters both inside and outside the courtroom. As a boutique law firm, our attorneys collaborate with our clients, value their input, and keep them fully up to date regarding their cases at every stage of the legal process. In addition, we provide cost-effective legal fees.

For more information about Cantafio & Song PLLC, including how we can help you with a wide variety of legal matters, such as environmental law and energy mediation and arbitration, read our clients’ testimonials.

To discuss your situation with our experienced attorneys in Denver, call us at (888) 458-0991 or reach out to us online today to schedule a free, no-obligation consultation. Se habla Español.

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