Posted 12/1/2023, 7:04:00 PM
Manchin Blasts Biden Guidance Allowing Chinese Firms to Benefit from EV Tax Credits
- Manchin scorched Biden admin over guidance allowing Chinese firms to exploit EV tax credits from Inflation Reduction Act he authored
- Guidance contradicts law's intent to boost domestic industry and reduce reliance on China for EV batteries
- Definition of "foreign entity of concern" allows Chinese firms linked to government to still benefit
- New exemption allows untraceable battery materials from 2024, which industry said made credits meaningless
- Manchin vowed to reverse "unlawful" rule via legislation, Congressional Review Act, and lawsuits to protect energy security