Administration Finalizes EV Tax Credit Rules; Senate Bill to Eliminate EV Tax Credit Introduced
This week the U.S. Department of the Treasury finalized rules on the EV tax credit that codify many of the credit’s key provisions, including allowing the credit to be offered at the point of sale, as well as allowing automakers to source minerals from the 20 countries with which the U.S. has formal trade agreements, but also extends eligibility to countries that have signed a narrower critical minerals agreement.
Senate Vote to Halt EPA EV Mandate Fails; U.S. Trade Chief Pledges Action on Chinese EVs
This week a vote in the U.S. Senate on an amendment offered by Senator Mike Crapo (R-Idaho) and Senator Joe Manchin (D-W.Va.) to prohibit the use of funds to implement, administer, or enforce the Environmental Protection Agency (EPA) tailpipe emissions regulation failed. Several Democrats voted with Republicans in the 52-46 vote, but the effort ultimately fell short of the needed 60 votes to pass.
EPA Finalizes Tailpipe Emissions Rule
On Wednesday the Environmental Protection Agency (EPA) announced its final Multi-Pollutant Emissions Standards for Model Years 2027 and Later emissions regulation, which will effectively require as much as 56 percent of new cars and light trucks sold in the U.S. to be all-electric by 2032, with hybrids accounting for an additional 16 percent of sales.
House Passes TikTok Bill in Bipartisan Vote; Scrutiny on China Ratchets Up in Washington
This week, in an increasingly rare bipartisan vote of 352-65, the U.S. House of Representatives passed legislation that would ban the TikTok application in the U.S. unless it is sold by ByteDance, it’s Chinese parent company, within six months.
Three More Chinese EV Bills Introduced in Senate
This week, Senator Marco Rubio (R-Fla.) introduced three bills targeting Chinese vehicles. The Closing Auto Tariffs Loopholes Act would treat motor vehicles produced by a foreign adversary and its controlled entities as if they originated in the territory of the foreign adversary.
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