Manchin’s bill would prohibit subsidies from going to electric vehicles powered by batteries with materials from China. Michigan’s Democrat Senator Debbie Stabenow is working to undermine that rule.
U.S. automakers and a group of Senate Democrats are working to hobble provisions of the Inflation Reduction Act intended to bolster the domestic critical mineral supply chain, exclude China from benefiting from U.S. taxpayer subsidies, and set the U.S. on a path to renewable energy independence.
The bill, which is a compromise worked out between Senator Joe Manchin and Majority Leader Chuck Schumer , includes nearly $370 billion in investments related to “climate change and energy security.” Among the provisions are tax credits and other incentives to promote electric vehicles, renewable energy investment, and investment in critical minerals.
Among the provision is an expansion of the $7,500 tax credits to help consumers buy electric vehicles. The bill eliminates the existing 200,000 vehicle cap under current law and creates a $4,000 credit for used electric vehicles. The bill also allows for an additional tax credit of $3,750 if at least 50 percent of the battery’s components are manufactured or assembled in North America. That ratchets up to 100 percent by 2029.
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