Hey everybody we're up now we're here and today we're talking about some pretty big

news on the US federal EV tax credit the Biden administration today has announced a new

framework for budget reconciliation and this is a framework so things could still change

but as of right now the EV tax credit does remain with a couple of changes.

Talk about that then we've also got a little bit of news on Tesla China, Nitsa and NTSB

and actually quite a few updates from Volkswagen that are pretty interesting.

Another strong day for Tesla stock today finishing up 3.8% to $1,077.4% the NASDAQ was strong

to finishing up 1.4% Tesla did rally quite a bit into close as well finishing

pretty close to the high of the day.

Alright so getting into the new framework that was shared by the White House today they

start off by saying quote after hearing input from all sides and negotiating in good faith

with senators mansion and cinema congressional leadership and a broad swath of members of

congress president Biden is announcing framework for the build back better plan and quote

they say that this will be used to guide the drafting of legislative language so again

things could still change here but the current framework has 555 billion dollars in investment

for climate change clean energy which the White House says quote will set the United States

on course to meet its climate targets achieving a 50 to 52% reduction in greenhouse gas emissions

below 2005 levels in 2030 in a way that grows domestic industries and good union jobs

and advances environmental justice and quote as for the parts which most affect Tesla

they say that quote the framework will cut the cost of installing rooftop solar for

a home by around 30% shortening the payback period by around 5 years and the frameworks

electric vehicle tax credit will lower the cost of an electric vehicle that is made in

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