The Senate passed the legislation in a 51-50 vote on Sunday. The Inflation Reduction Act features almost $400 billion in funding for climate and energy related programs over the next 10 years. Tesla Inc TSLA shares are trading higher Monday amid strength in EV stocks.

The bill is now headed to the House, where it's expected to be passed within the week before being sent to President Joe Biden’s desk. It includes an extension of the $7,500 electric vehicle tax credit and a new $4,000 tax credit for used EVs priced below $25,000.

Tesla stock will begin trading on a split-adjusted basis on Aug. 25. TSLA has a 52-week high of $1,208 and a52-week low of $620.57. The listings that appear on this page are from companies from which this website receives compensation.

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