Jac
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- Jacob
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According to Politico this morning:
“Senate Finance Committee Chair Ron Wyden (D-Ore.) announced that his panel’s energy provisions, which include the electric vehicle tax credits and a bonus tax credit to encourage clean energy developers to pay the prevailing wage, cleared Senate budget rules.
Some budget experts had surmised that certain conditions placed on the electric vehicle tax credits, including restrictions on where car battery materials must be sourced, ran afoul of the budget rules guiding the process that Democrats are using to pass their bill with a simple majority and evade a filibuster.
Under the current proposal, a car is only eligible for full credit if the batteries were made with materials from the U.S. or countries that have trade agreements with the U.S. — a requirement that some experts argue will make it very difficult to obtain the tax credit.
But those provisions can apparently remain in the package — a decision likely to please Sen. Joe Manchin (D-W.Va.), who wanted the restrictions in order to curb the electric vehicle industry’s reliance on China.”
“Senate Finance Committee Chair Ron Wyden (D-Ore.) announced that his panel’s energy provisions, which include the electric vehicle tax credits and a bonus tax credit to encourage clean energy developers to pay the prevailing wage, cleared Senate budget rules.
Some budget experts had surmised that certain conditions placed on the electric vehicle tax credits, including restrictions on where car battery materials must be sourced, ran afoul of the budget rules guiding the process that Democrats are using to pass their bill with a simple majority and evade a filibuster.
Under the current proposal, a car is only eligible for full credit if the batteries were made with materials from the U.S. or countries that have trade agreements with the U.S. — a requirement that some experts argue will make it very difficult to obtain the tax credit.
But those provisions can apparently remain in the package — a decision likely to please Sen. Joe Manchin (D-W.Va.), who wanted the restrictions in order to curb the electric vehicle industry’s reliance on China.”
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