House Republicans Propose Killing Federal EV Tax Credits - US Exits the EV race

South Korean battery makers see proposed US tax credit repeal as opportunity to defeat Chinese rivals

Korean electric vehicle (EV) battery manufacturers have denied concerns that their profits may decline further as a result of the United States House Republicans' latest proposals to phase out former Democratic President Joe Biden's clean energy tax credits earlier than scheduled. Citing the expanded statutory definition of "foreign entity of concern (FEOC)" under the proposed amendment to the Inflation Reduction Act (IRA), manufacturers here cl…

House Republicans Propose Killing Federal EV Tax Credits - US Exits the EV race

Republicans push to repeal clean energy tax breaks, putting companies in limbo and billions in investments at risk

A Republican-led effort to repeal major clean energy tax credits threatens more than $500 billion in pending investments, many in GOP districts, and could reshape America’s energy landscape.Brad Plumer and Harry Stevens report for The New York Times.In short:The Inflation Reduction Act spurred more than $843 billion in announced clean energy investments since 2022, but only $321 billion has been spent; the rest is now uncertain due to a proposed…

Sales of electric vehicles have increased in recent years, partly because of a $7.500 federal government tax credit that helps reduce the cost of buying one. But a budget bill that House Republicans published on Monday would end that tax credit. Their proposal would also put new restrictions on other tax exemptions that have encouraged car manufacturers to invest tens of billions of dollars in new battery plants in the United States.

Republican Proposal to Eliminate EV Tax Credits May Impact GM and Ford Negatively

In recent years, the popularity of electric vehicles has surged, fueled by a $7,500 tax credit from the federal government aimed at making purchases more affordable. However, the budget bill unveiled by House Republicans on Monday suggests eliminating this tax credit. This proposal also introduces new limitations on other tax incentives that motivate automakers to [...] Source The post Republican Proposal to Eliminate EV Tax Credits May Impact G…

Republican Bill to End E.V. Tax Credit Could Hurt G.M. and Ford - Software Unplugged

Sales of electric vehicles have been rising in recent years, partly because of a $7,500 tax credit from the federal government that helps lower the cost of buying one. But a budget bill that House Republicans released on Monday would end that tax credit. Their proposal would also put new restrictions on other tax breaks that have encouraged automakers to invest tens of billions of dollars in new battery plants in the United States. By next year,…