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Saturday, September 21, 2024

McClain votes on act ending tax subsidies for Chinese car companies

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Lisa McClain U.S. House of Representatives from Michigan | Official U.S. House headshot

Lisa McClain U.S. House of Representatives from Michigan | Official U.S. House headshot

Rep. Lisa McClain (R-Mich.) has voted in favor of H.R. 7980, known as the End Chinese Dominance of Electric Vehicles in America Act of 2024. The legislation aims to prevent the Chinese Communist Party from benefiting from American taxpayer dollars allocated for electric vehicle subsidies under the Biden-Harris Inflation Reduction Act.

“The Chinese Communist Party is reaping the benefits of Americans’ hard-earned money thanks to loopholes created by bureaucrats in the Biden-Harris Administration,” said McClain. “The Administration’s disastrous EV mandates and policies are costing auto workers their jobs and we cannot continue to allow foreign nations to earn subsidies while threatening the American auto industry.”

Key provisions of the bill include amendments to the Internal Revenue Code of 1986, excluding vehicles with batteries containing materials sourced from foreign entities of concern (FEOC) from clean vehicle credits. It also requires the Treasury Department to adhere to the Commerce Department's definition of FEOC and aims to close loopholes that currently allow Chinese business owners to receive American tax dollars through investments in EV projects.

Read the full text of the bill here.

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