MANCHIN TO DELAY CREDITS FOR ELECTRIC CARS

MANCHIN TO DELAY CREDITS FOR ELECTRIC CARS

Manchin to delay credits for electric cars. President Biden has made the transition to green energy part of his agenda, but Sen. Manchin wants to delay that. The reason is that the Treasury Department is allowing battery manufacturers in Europe to get by the requirements that the batteries would be produced in North America. The Inflation Reduction Act is really a energy bill, designed to transition the U.S. off fossil fuels into renewables. Yet the Electric Vehicle Tax Credits in the bill, designed to grow the U.S. manufacturing and reduce our reliance on foreign supply chains, would be undercut by the current proposal. Manchin to delay credits for electric cars.

The delay comes while as a backdrop, the Administration's Energy Secretary, Jennifer Granholm, and White House climate advisor Ali Zaidi, are set to attend the Washington D.C. auto show, which is highlighting the Biden Administration efforts to boost Electric Vehicle's. The tax credits in the bill, give credits of up to $7500 per vehicle, which should improve the sales of Electric Vehicles and the domestic production of vehicles and batteries while it helps combat climate change. French President Macron has suggested the bill is unfair to foreign manufacturers. While Macron likes the Biden Administration work on climate change, he sees it as a huge setback for European Countries. Biden suggested that "tweaks" could be made to the law, to satisfy allies.

Manchin has been very critical that the U.S. is reliant on foreign suppliers for the batteries that supply the electric vehicles, most being made by China. His attempt is to change that, bringing the manufacturing back to the United States.

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