Hyperdrive
EV Tax-Credit Limits Cleared to Stay in Democrats’ Package
- First fees on excess industrial methane emissions also allowed
- Automakers made last-ditch lobbying drive for changes in bill
This article is for subscribers only.
New limits for claiming the electric-vehicle tax credit can remain in Democrats’ tax and spending bill after the Senate parliamentarian determined they comply with the chamber’s budget rules, according to a spokeswoman for the Senate’s tax-writing committee.
The provision, which automakers such as Ford Motor Co. and General Motors Co. lobbied to change, includes prohibitions on batteries and critical minerals that are processed in China and other “foreign entities of concern,” which could render the consumer credit largely useless for years to come.