TL/DR –
The House Ways and Means Committee has approved a legislation that would overturn Biden administration regulations for implementing the federal electric vehicle tax credit. The rules, published in May, set out standards for how automakers can comply with Inflation Reduction Act requirements. However, Republicans argue that the Treasury Department’s regulations give automakers too much flexibility, particularly in sourcing minerals and other components from “foreign entities of concern”.
US House Committee Seeks to Overturn Biden’s EV Tax Credit Rules
The House Ways and Means Committee has passed a bill to repeal regulations set by the Biden administration regarding the federal electric vehicle tax credit. The regulations in question, published in May, detail how automakers should adhere to Inflation Reduction Act requirements, including sourcing mandates.
However, Republicans object to the Treasury Department’s rules on sourcing minerals and other components from “foreign entities of concern,” arguing that they provide too much flexibility to automakers.
Rep. Carol Miller (R-W.Va.), sponsor of the resolution, criticized the Treasury Department during Tuesday’s markup, stating that the regulations contradict the original intent of the law: “The Treasury Department has stepped way outside of their authority.”
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