Many electric vehicles to lose big tax credit with new rules

An electric vehicle is plugged into a charger in Los Angeles, Aug. 25, 2022.

Manchin called it “horrific” that the Biden administration “continues to ignore the purpose of the law, which is to bring manufacturing back to America and ensure we have reliable and secure supply chains.’’ If you’re looking to buy an EV and want the full $7,500 tax credit, you’d better move quickly. The Internal Revenue Service lists more than three dozen electric or plug-in hybrid passenger vehicles made in North America that now are eligible. But some won’t qualify or will get only half once the new Treasury Department rules take effect in less than three weeks.

The big issue is new rules limiting the percentage of battery parts and minerals that come from countries that don’t have free trade or mineral agreements with the United States.

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Manchin blasts Biden Treasury Department for 'pathetic' EV tax credit move.Sen_JoeManchin blasted the Biden administration after the USTreasury issued new rules on the use of electric vehicle tax credits. 'It is a pathetic excuse to spend more taxpayer dollars as quickly as possible,' Manchin said. Sen_JoeManchin USTreasury Sen_JoeManchin where have ya been? Im surprised your still aligned with these people honestly Sen_JoeManchin USTreasury Oil-industry-owned Senator said what? Sen_JoeManchin USTreasury He voted for the law and should have known better. He is part of the problem.
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