January 19-28, 2024 / Washington DC, Convention Center

NEWS

Manchin pushes to delay tax credits for electric vehicles

Article by MATTHEW DALY ASSOCIATED PRESS

Democratic Sen. Joe Manchin III on Wednesday moved to delay new tax credits for electric vehicles, a key feature of President Biden’s landmark climate law.

Manchin said guidelines issued by the Treasury Department allow manufacturers in Europe and other countries to bypass requirements that significant portions of EV batteries be produced in North America.

The climate law, officially known as the Inflation Reduction Act, “is first and foremost an energy security bill,” Manchin said, adding that the EV tax credits were supposed “to grow domestic manufacturing and reduce our reliance on foreign supply chains for the critical minerals needed to produce EV batteries.’’

Manchin’s bid to delay the tax credits surfaced as Energy Secretary Jennifer M. Granholm and White House climate advisor Ali Zaidi visited the Washington, D.C., Auto Show on Wednesday to highlight the administration’s efforts to boost electric vehicles and related infrastructure.

EV sales have tripled since Biden, a Democrat, took office two years ago, Granholm said. There are now more than 2 million EVs and 100,000 chargers on U.S. roadways, with more than $100 billion invested or pledged for EVs and their supply chains, including batteries, she said.

Although batteries and components have long been manufactured in China, “we’re going to bring that manufacturing home,” Granholm told reporters.

“We’re going to give Americans the chance to drive American vehicles made by American workers — and that is only going to compound as Americans start to drive these vehicles and realize how great they are,’’ she said. “The demand is going to go very high. We expect that by 2030, half of all the vehicles sold in the United States will be electric.’’

PHOTO CREDIT:
(Andrew Harnik / Associated Press)

2025 Tickets On Sale Later This Year