EV Tax Credit Limits Cleared to Stay in Democrats’ Package

EV Tax Credit Limits Cleared to Stay in Democrats’ Package

1h ago EV Tax Credit Limits Cleared to Stay in Democrats’ Package Bloomberg News, (Bloomberg) -- New limits for claiming the electric vehicle tax credit can remain in Democrats’ tax and spending bill after the Senate parliamentarian determined they comply with the chamber’s strict budget rules, according to a spokeswoman for the Senate’s tax writing committee. The provision, opposed by major automakers such as Ford Motor Co. and General Motors Co., includes prohibitions on batteries and critical minerals that are processed in China and other “foreign entities of concern,” which could render the consumer credit largely useless for years to come. Those stipulations, and other limits on who qualifies for the $7,500 per-vehicle tax credit, were key to gaining the support of Senator Joe Manchin, who has railed against the …
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