Senator wants US to pause implementation of new electric vehicle tax credits

© Reuters. FILE PHOTO: Senator Joe Manchin (D-WV) leaves the United States Capitol in Washington, U.S., September 27, 2022. REUTERS/Mary F. Calvert

(Reuters) – Senate Energy and Resources Committee Chairman Joe Manchin on Thursday called on the US Treasury Department to halt implementation of the commercial and consumer electric vehicle tax credits.

The US Treasury Department on Thursday issued guidance allowing automakers to take advantage of commercial vehicle tax credits for consumer rentals that don’t have the same stringent battery sourcing rules as in consumer purchase credits intended to move U.S. supply chains out of China.

Manchin said the Treasury’s guidance “bends to the wishes of companies looking for loopholes and is clearly inconsistent with the intent of the law. It only undermines our ability to become one.” a more energy-secure country.”


News5h: Update the world's latest breaking news online of the day, breaking news, politics, society today, international mainstream news .Updated news 24/7: Entertainment, the World everyday world. Hot news, images, video clips that are updated quickly and reliably

Related Articles

Back to top button