![]() Though the list was released by Treasury, automakers submit which of their vehicles qualify based on federal guidance, under penalty of perjury.Īn administration official called the new list a “clear and workable” interpretation of the domestic-sourcing requirements that Congress imposed when it passed the Inflation Reduction Act in August. Treasury’s guidance was posted in Monday’s Federal Register and the list of qualifying vehicles went up on the IRS website as well as the Energy Department’s page Monday morning. But for now, it will limit the choices of consumers hoping the tax breaks can make EVs more affordable - and it will further rile European governments whose automakers all failed to make the cut. In the long run, the limits are intended to foster the creation of jobs and a vast new clean-energy industry inside the United States, as Congress was seeking when it enacted Democrats’ climate law last year. Under the tightened restrictions, electric and plug-in-hybrid vehicles can get the full tax credit only if the vehicles are made in North America, and only if most of their batteries and critical minerals come from the United States or its closest trading partners. ![]()
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