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Congress Rejects Clean Vehicle Tax Credit Rules: Treasury Department Regulations Disapproved.

The U.S. Congress has disapproved the Department of the Treasury's rules regarding clean vehicle tax credits. This means that the previously proposed regulations concerning credits for electric and hybrid vehicles, including those related to critical minerals and battery components, will not take effect. This could impact the cost of clean vehicles and the availability of incentives for buyers.
Key points
Rules for clean vehicle credits (Sections 25E and 30D) have been rejected by Congress.
This means that the proposed regulations concerning clean vehicle credits, credit transfers, critical minerals, battery components, and foreign entities of concern will not be implemented.
Citizens may lose access to certain tax incentives when purchasing electric or hybrid vehicles, potentially influencing their buying decisions.
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Additional Information
Print number: 118_HJRES_148
Sponsor: Rep. Miller, Carol D. [R-WV-1]
Process start date: 2024-05-16