Sen. Joe Manchin (D-W.Va.) said a new Biden administration ruling on electric vehicle tax credits provisions in the 2022 Inflation Reduction Act (IRA) was a significant deviation from what he believed was the intent of the law when he voted for it last summer.
A provision of the Inflation Reduction Act allowed for up to $7,500 in tax credits for electric vehicles that meet certain supply chain criteria. President Joe Biden’s administration supported the IRA and the legislation passed last year after Democratic lawmakers reached an agreement with the centrist Manchin over certain provisions of the bill, such as the supply chain requirements for electric vehicles. In December, however, Biden’s Treasury Department delayed implementation of the electric vehicle tax credit system until it could prepare guidance for how supply chain requirements would be enforced….