Texas Congressman Keith Self criticizes Ford’s partnership with Chinese battery company CATL. Courtesy Photo
Congress must block foreign adversaries like China from exploiting U.S. tax credits that should be reserved for American manufacturers, said U.S. Rep. Keith Self.
Self, R-Texas, has introduced House Resolution (H.R.) 4441, which he calls the Foreign Automobile Industry Restriction on Electric Vehicle Tax Credits (FAIR-EV Tax Credits) Act.
The resolution would amend the Internal Revenue Code of 1986 to prohibit electric vehicle tax credits that might be issued under the Inflation Reduction Act of 2022.
“Chinese companies are partnering with American companies to take advantage of these tax credits, thereby strengthening China at the expense of American taxpayers,” Self said June 30 in introducing his resolution.
The congressman cited Ford Motor Company’s plan to build a battery plant in Michigan using technology from China’s Contemporary Amperex Technology Company Limited (CATL).
Transportation Secretary Pete Buttigieg has expressed concern over China’s advantage over the U.S. in electric vehicle batteries since Chinese firms reportedly account for more than half of the EV battery market and satisfy as much as 90% of demand for some battery materials.
To read the full story and support your local newspaper, subscribe to The Princeton Herald.
0 Comments