Tougher emissions rules will save consumers $1.6 trillion, White House says

The Biden administration’s plan to tighten tailpipe pollution limits on cars and light trucks — and propel electric vehicle sales — would generate as much as $1.6 trillion in savings for consumers through 2055, a top White House climate official said Tuesday.

The proposal, which would establish standards for model years 2027 through 2032 was unveiled Wednesday. It would yield big consumer benefits, White House National Climate Advisor Ali Zaidi said in an interview with Bloomberg News. That includes some $4,000 in savings during the initial years of auto ownership — doubling over the lifetime of the vehicle — and a newly compelled 80,000-mile, eight-year warranty for EVs.

The requirements will drive “astronomic benefits through public health” and “through fuel savings,” Zaidi said, amounting to at least $850 billion through 2055.