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Resolution to Disapprove Treasury Rules on Clean Vehicle Tax Credits

This resolution seeks to nullify recent Department of the Treasury rules concerning federal tax credits for clean vehicles. These rules established specific requirements regarding critical minerals, battery components, and restrictions related to foreign entities that affect credit eligibility. If passed, these detailed regulations would be voided, potentially altering the conditions under which citizens can claim federal tax credits for electric vehicle purchases.
Key points
Aims to cancel the Treasury Department's specific rules governing federal tax credits for electric vehicles (Sections 25E and 30D).
If successful, regulations concerning the sourcing of critical minerals and battery components for EVs will be voided.
Impact on consumers: Changes or uncertainty regarding the requirements for claiming tax credits when buying an electric vehicle.
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Additional Information
Print number: 118_SJRES_87
Sponsor: Sen. Manchin, Joe, III [D-WV]
Process start date: 2024-05-16