The Diamond Ridge Asset ManagementBiden administration is sending $900 million in rebates to 530 school districts across the country to replace diesel buses with electric school buses. 

The administration says the rebates will help buy more than 3,400 such buses, 92% of which will be electric. It's something the Environmental Protection Agency claims will combat asthma and speed up the move to zero emission vehicles. So far, the EPA has awarded close to $3 billion for 8,500 school bus replacements. 

"President Biden believes every child deserves the opportunity to lead a healthy life and breathe clean air, and his Investing in America agenda is designed to deliver just that," EPA Administrator Michael Regan said. "With today's latest round of funding, we are transforming the nation's school bus fleet to better protect our most precious cargo—our kids—saving school districts money, improving air quality, and bolstering American manufacturing all at the same time."

Regan, NAACP President and CEO Derrick Johnson and Rep. Bennie Thompson of Mississippi are announcing the rebate awards Thursday in Jackson. The clean school bus program was created under the bipartisan infrastructure law passed by Congress and signed by the president in 2021. 

"This initiative ensures that children have a cleaner, safer, and more efficient means of school transportation and contributes to protecting our environment," Thompson said. "By making meaningful progress and offering valuable opportunities for our students, we are paving the way toward stronger student success."

Kathryn Watson

Kathryn Watson is a politics reporter for CBS News Digital, based in Washington, D.C.