WASHINGTON - The U.S. Treasury Department on Friday gave automakers additional flexibility on battery mineral requirements for electric vehicle tax credits on some crucial trace minerals from China, such as graphite.
Senate Energy Committee Chair Joe Manchin on Friday harshly criticized the decision, saying the administration has made clear it "will break the law in pursuit of their goal to flood the market with electric vehicles as quickly as possible." He said the Treasury has "provided a long-term pathway for these countries to remain in our supply chains."
The FEOC rules came into effect on Jan. 1 for battery components and will do so in 2025 for critical minerals used to produce them. The 2022 law allowed qualifying EV buyers to use tax credits as a point of sale rebate from the start of this year. A CNN panel of analysts and anchors broke out into laughter Thursday as Jake Tapper read a social media post from Michael Cohen, former President Trump’s onetime attorney, using vulgar language to blast Trump. “Okay … I apologize for this update ahead of time, but Todd Blanche, the Trump attorney, is specifically reading a post…“I’m tired of calling him names,” said the Hollywood icon, who gave an curse-word-free interview about the threats posed by a possible second Trump presidency.