Senator requests that the U.S. halt implementation of new electric vehicle tax credit credits

(Reuters) – The Senate Energy and Natural Resources Committee chair Joe Manchin urged the U.S. Treasury on Thursday to halt implementation of consumer and commercial electric vehicle tax credits.

On Thursday, U.S. Treasury issued guidance allowing automakers to benefit from commercial vehicle tax credit for consumer leasing. The credits are not subject to the same strict battery source rules as consumer purchase credits that aim at shifting U.S. supplies away from China.

Manchin stated that the Treasury guidance “bends in the will of the companies searching for loopholes, and is clearly inconsistent the intent of law.” It does not help us to become more energy secure.

(Reporting By David Shepardson