President Joe Biden's administration is putting the finishing touches on tax credits to spur EV sales. Here he's seen with GM CEO Mary Barra last year in front of a Chevrolet EV.
A struggle is unfolding in Washington over who will make the electric vehicles that the Biden administration sees as a key part of the transition to a carbon-neutral economy.The specific flashpoint is the landmark Inflation Reduction Act, and the large tax credits it offers American consumers for buying an EV.
The U.S. government is now writing the rules to implement this law, arguably the biggest legislative achievement of the Biden era.Is it to sell more electric vehicles, more quickly, speeding the transition to a low-carbon economy? Or is it to achieve the slower, steadier re-industrialization of North America — one that would reduce long-term reliance on China and draw manufacturing here as part of what the White House has taken to callingThat debate is playing out as the U.S. Treasury Department studies public comments while designing its tax credits — which are worth