by John Carney at Breitbart News
Senator Debbie Stabenow (D-MI) told reporters this week that the rules requiring key components to be sourced from the U.S. and allied trading partners should be changed to allow consumers to receive tax credits for cars that do not meet the requirements in the current version of the bill.
The bill, which is a compromise worked out between Senator Joe Manchin (D-WV) and Majority Leader Chuck Schumer (D-NY), includes nearly $370 billion in investments related to “climate change and energy security.” Among the provisions are tax credits and other incentives to promote electric vehicles, renewable energy investment, and investment in critical minerals.
A technician installs batteries onto a new-energy vehicle at the production line of Kaiyi Auto in Sanjiang New Area of Yibin, southwest China’s Sichuan Province, July 20, 2022. (Photo by Wang Xi/Xinhua via Getty Images)
Among the provision is an expansion of the $7,500 tax credits to help consumers buy electric vehicles. The bill eliminates the existing 200,000 vehicle cap under current law and creates a $4,000 credit for used electric vehicles.
The bill also significantly revises the criteria for…
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