Overall, the guidance provides much-needed clarity for the automotive industry to move forward. Now fast forward to a few days after the summit, and the administration’s long-awaited interpretations and guidance on the EV tax credits are out. And by that, Manchin’s real crux of concern is with a supply chain connected to China. is going to move to EVs, then it must do so with a reliable supply chain, one that isn’t affected by geopolitical battles. The West Virginia senator shared what we all know to be true and in theory, politically intelligent - if the U.S. However, even with this positive impact, Manchin is upset. And what’s not to love? While no law is perfect, the IRA is creating massive waves on the climate front by spurring industry innovation and change globally. He immediately followed those comments by sharing his absolute love of the IRA. Manchin’s tug of war with the Biden administrationĭuring the summit, Manchin threatened legal action against the IRA should the administration broaden Congress’ intent through its interpretation. As I listened, several things stood out to me - most notably that the man is in a pickle, caught between taking a strong stand against the administration and being seen as attacking the IRA. Sandwiched in between his many points of contention with the administration, Manchin pulled in the audience and shared his thoughts on what’s going on in Washington, D.C. In the piece, he also didn't hold back, saying the administration is subverting the law's intent for "ideological ends." Manchin published an opinion piece in The Wall Street Journal shortly after the summit. Known for his centrist views, which often differ from the current administration, Manchin laid out his feelings in a comedic, candid and clear way as he shared how, at that moment, he feared the administration was going around congressional intent by interpreting the EV tax credit provisions of the IRA to widen the scope of its meaning. The agenda included a closing keynote discussion by Manchin. On March 29, I attended the SAFE Summit in Washington, D.C., an industry-specific event looking at the pathway to electrification from minerals to market.
Joe Manchin (D-West Virginia) is not happy. The Treasury Department recently published its long-awaited guidance on EV critical minerals and battery components relating to EV tax credit eligibility - clearing up some confusion and creating new ones along the way.
It seems we had a moment of controlled and relatively calm chaos after the passage of the Inflation Reduction Act (IRA), only to be thrown back onto the roller-coaster ride, strapped in and launched onto a Treasury-induced stomach turner.
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