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International opposition mounts over proposed U.S. EV tax credit

admin by admin
October 31, 2021
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International opposition mounts over proposed U.S. EV tax credit

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Congress failed to extend child tax credit expansion, but Murkowski says she’s open to negotiations

A Lavish Tax Dodge for the Ultrawealthy Is Easily Multiplied

A group of 25 ambassadors to Washington wrote U.S. lawmakers and the Biden administration late Friday saying “limiting eligibility for the credit to vehicles based on their U.S. domestic assembly and local content is inconsistent with U.S. commitments made under WTO multilateral agreements.”

The U.S. Congress is considering a new $12,500 tax credit that would include $4,500 for union-made U.S. electric vehicles and $500 for U.S.-made batteries. Only U.S. built vehicles would be eligible for the $12,500 credit after 2027, under a House proposal released this week.
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