Joe Manchin, the chair of the Senate Energy and Natural Resources Committee, urged the U.S. Treasury on Thursday to put a hold on the implementation of the commercial and consumer electric vehicle tax credits.
On Thursday, the U.S. Treasury released guidelines that will enable automakers to benefit from commercial vehicle tax credits for consumer leasing that do not have the same stringent battery sourcing requirements as those in consumer purchase credits intended to divert U.S. supply chains away from China.
Manchin stated that the Treasury’s advice ‘bends to the demands of the businesses seeking legal loopholes and is obviously at odds with the purpose of the law. It only weakens our country’s capacity to achieve greater energy security.’
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