Crapo Statement on Treasury Clean Vehicle Tax Credit Guidance
Washington, D.C.--Senate Finance Committee Ranking Member Mike Crapo (R-Idaho) issued the following statement on guidance released by the U.S. Department of the Treasury and Internal Revenue Service on clean vehicle tax credit eligibility:
“The ever-changing, and late, Treasury guidance on electric vehicle tax credits has once again failed to follow through on promises that minerals and components sourced from China would be barred from electric vehicles qualifying for the tax credit.”
The Administration is also attempting to side-step a statutory requirement for the clean vehicle tax credit in the Inflation Reduction Act (IRA) by negotiating the United States - Japan Critical Minerals Agreement, which lacks any binding or enforceable commitments, bypassing Congress and the American people. Read Crapo’s statement here.
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