Posted on 01/25/2023 9:19:00 AM PST by Oldeconomybuyer
WASHINGTON (AP) — Ratcheting up his criticism of the Biden administration, Democratic Sen. Joe Manchin on Wednesday moved to delay new tax credits for electric vehicles, a key feature of President Joe 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 designed to grow domestic manufacturing and reduce our reliance on foreign supply chains for the critical minerals needed to produce EV batteries.″
Manchin’s bill follows a decision by the Treasury Department to delay rules on battery contents and minerals until March, while allowing the rest of the program to be implemented on Jan. 1. The Manchin bill directs the Treasury to stop issuing tax credits for vehicles that don’t comply with battery requirements.
“The United States is the birthplace of Henry Ford, who revolutionized the automotive industry,″ Manchin said, calling it “shameful that we rely so heavily on foreign suppliers, particularly China, for the batteries that power our electric vehicles.″
(Excerpt) Read more at apnews.com ...
Good for him. Stop the green sh**.
“Good for him. Stop the green (deleted per posting guidelines).”
You didn’t read the article!
There should never have been tax credits for individuals buying electric vehicles, or even subsidies or tax forgiveness for EV auto makers. It’s not a free market system when the government gets involved in choosing winners and losers.
If there should have been tax credits for automobile buyers, then, those credits should have gone to all buyers of all types of vehicles. But that would still be government intervention into the markets, so, none of it should have occurred.
Even regulations which favor a type of vehicle over another, should be banned. Let the markets decide which sector survives and which should die.
If a car requires a tax credit to compete, there’s something wrong with it.
Man chin must be getting filthy rich?
And how did Bush, Obama and Hilary handle their classified material????
More tough talk for the cameras from Joe. He’ll fold when required by his leadership and then claim he was suckered just like he always does.
Manchin is a political prostitute and goes whether serves his interests the best.
No morals, no beliefs just fill his coffers and keep the yokels back home fooled enough til the next election cycle.
BAN EVs!!!!
Why doesn’t Manchin and Sinema just switch parties already and be done with it? Just for the entertainment value alone.
Another one of Manchin’s zig-zags to maintain (In his mind!) his viability for Prez or VPrez.
Thats the thing though Tesla was having some of the best selling models in the market. None of the BEV manufacturers could keep up with demand. Why do you subsidize a booming market? Why basically transfer billions of dollars from taxpayers, to giant auto manufacturers. If they were serious on the “green”, they would subsidize individuals to crush highly polluting autos that are are registered and actively driven +5K miles per year. Probably 10x better for carbon release then to subsidize someone driving a highly efficient hybrid to buy a BEV. My preference is neither and I argue Feds have no authority to subsidize individual purchases of anything.
And I guarantee the likes of Energy Sec Jennifer Granholm and select members of Congress and the Deep State are getting their cut of the taxpayer subsidies.
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