Manchin has urged the Treasury Department to stop implementing EV taxes

Charleston, WV – Today, US Senator Joe Manchin (D-WV), Chairman of the Senate Energy and Natural Resources Committee, issued a statement urging the US Department of the Treasury to stop implementing the 45W commercial and 30D new vehicle tax credit until they can provide guidance in accordance with the purpose of the Law of Diminishing Money (IRA).

“The intention is to Law of Diminishing Money it was clear – bring our energy and supplies ashore to protect our national security, reduce our dependence on foreign adversaries and create jobs here in the United States. The information released today from the Ministry of Finance explains how they will implement business taxes and EV buyers to yield to the demands of companies that are looking for incentives and it is clear that they are not consistent with the intent of the law. It only weakens our ability to become a stronger nation. It is inconceivable that we are still dependent on China and Russia for the raw materials and manufacturing needed to power our nation in the 21st century and I cannot understand why the Biden Administration is issuing guidelines to ensure this. we continue in this way.

“The Ministry of Finance has known since August that they need to provide structured guidelines on the materials and components of the Clean Car to follow directly the purpose of the IRA at the end of this year. Instead , the Treasury decided to ignore this deadline and issue regulatory advice in March. Now, they have decided to move forward. in implementing these things debt without proper guidance to ensure that taxpayers’ money is being used wisely. This is an unacceptable result and I call on the Treasury to stop doing business with new consumer EV tax financing until they provide the appropriate guidance. In addition to calling for this stop on the implementing these recommendations, when Congress returns to session in the coming weeks I will introduce legislation to further clarify the original intent of the law and prevent this dangerous statement from the Treasury from moving forward.”

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