Republicans introduce bill that would hand EV lead to China

Republicans Introduce Bill to Hand EV Lead to China The Inflation Reduction Act included hundreds of billions of dollars of climate spending, much of which was allocated to EV tax credits, both for personal and commercial vehicles.

These credits were an extension and expansion of the $7,500 EV tax credit first introduced in 2008.

The new act, fittingly called the “ELITE” Vehicles Act, aims to eliminate the clean vehicle credit for new, used, and commercial electric vehicles.

It was introduced by John Barrasso, a republican senator from Wyoming who has received $526,425 from the oil & gas industry in this senate election cycle.

In short, John Barrasso, author of the act, is lying to protect the industry that bribes him.

If somehow passed, it would almost certainly be vetoed by President Biden, so it is not likely to make it into law under the current government.