Monday, January 30, 2023
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U.S. Senator Seeks to Bar EVs From Tax Credits Not Meeting Sourcing Rules


WASHINGTON (Reuters) – U.S. Senate Energy and Natural Resources Committee chair Joe Manchin on Wednesday introduced legislation that would immediately impose battery sourcing requirements on electric vehicles to qualify for $7,500 tax credits.

The U.S. Treasury in December said it would not issue proposed guidance on battery sourcing rules until March, giving some electric vehicles not meeting new requirements a brief window of eligibility in 2023 before the battery rules take effect. Manchin’s legislation would make all of the battery requirements for tax credits retroactive to Jan. 1.

(Reporting by David Shepardson)

Copyright 2023 Thomson Reuters.

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