Senator Manchin aims to close battery loophole around the $7,500 EV tax credit
Senator Joe Manchin, chairman of the Senate Energy and Natural Resources Committee, hasthat squashes a small loophole around the Inflation Reduction Act's $7,500 EV tax credit. The new credits are restricted to cars with final assembly in the US, as well as those with a certain amount of North American battery content ., which means EVs with foreign batteries can still receive the full $7,500 in credits until then.
“It is unacceptable that the U.S. Treasury has failed to issue updated guidance for the 30D electric vehicle tax credits and continues to make the full $7,500 credits available without meeting all of the clear requirements included in the ," Manchin wrote a statement.
If it's passed, the bill would be disappointing news for anyone who rushed out to buy an EV before March (something
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