Manchin Goes Scorched Earth On IRA EV Tax Credits
The Biden administration’s signature clean energy law, the Inflation Reduction Act (IRA), got its clock cleaned last week at a Senate Energy Committee hearing.
The Biden administration’s signature clean energy law, the Inflation Reduction Act (IRA), got its clock cleaned last week at a Senate Energy Committee hearing.
Congress must act to prohibit Chinese companies from receiving Inflation Reduction Act tax credits.
China EV battery makers are the world’s largest. The U.S. has none. So China is getting new contracts to build EV plants, thanks to Inflation Reduction Act. Some in Washington do not want IRA benefits going to China.
The U.S. China Economic & Security Review Commission heard from witnesses about keeping auto tariffs on China, and more incentives for manufacturing to reshore.
If Washington hopes to launch a viable domestic solar industry, it must fully enforce U.S. trade laws and confront China’s continuing attempts to suffocate America’s solar industry.
Companies continue to invest in domestic solar thanks to all the new renewable energy tax credits. Without them, and tariffs, US solar would be China owned.
But rebuttal to Sullivan’s Brookings Institution speech shows a group of DC influencers are less inclined to support local manufacturing out of concerns about allied relations, more.
Jigar Shah, Director of the Loans Program Office at the DoE, is in charge of billions of dollars in new renewable energy loans. He once advocated for China solar power.
Will the Inflation Reduction Act further solidify Chinese multinationals as the indisputable champions of global ‘green tech’ manufacturing?
Former President Trump says the U.S. needs universal tariffs to fix trade imbalances with the world. And says China should no longer be on the Most Favored Nation trade list, giving it nearly duty-free access to the U.S. for thousands of products.