Any significant reductions or a rollback of the Inflation Reduction Act's support for EVs would benefit China, according to GM board member and former Tesla executive Jon McNeill.
McNeill, in an email to CNBC, said the IRA is providing enticements to both the manufacturers and consumers "to level the playing field" against Chinese car companies.is elected to a second term, he would gut many of the Biden administration's clean energy and climate initiatives such as the To actually get a wholesale IRA repeal, Trump would need Republican majorities in both chambers of Congress, which is unlikely, though possible. Moreover, those hypothetical Republican majorities would need to put IRA rollbacks at the top of their legislative priority list, which is also not guaranteed.