Global markets fell prior to House Speaker Nancy Pelosi’s visit to Taiwan; proposed tax credits on electric vehicle purchases; domestic airfares drop; and more.
Global markets fell prior to House Speaker Nancy Pelosi’s visit to Taiwan as geopolitical concerns with China spooked investors. Proposed extended and new tax credits for electric vehicle purchases could benefit middle-class consumers. Domestic airfares drop to pre-pandemic levels in the nick of time for vacationers still looking to take a summer trip.
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Damage to Ukraine’s infrastructure from Russia’s war totals $108.3 billion, factoring in devastation to 105,200 cars; 43,700 agricultural machines; 764 kindergartens; and more. Researchers estimate it would cost more than that—$185 billion—to repair the damages.
A surprise deal making its way through the Senate would mark a major victory for automakers and future electric vehicle buyers by extending the current $7,500 per vehicle tax credit through 2032 while also creating a new $4,000 credit for purchasing used EVs from dealers.
