The Internal Revenue Service (IRS) and the U.S. Department of the Treasury are soliciting public comment on draft rules for the revised federal EV tax credit, suggesting these rules may be rapidly finalizing. .
“We’re trying to do this with urgency,” said John Podesta, a senior White House adviser overseeing energy guidance. Bloomberg and other media in a recent press conference. “You’ll see some of these guidelines before the end of the year.”
2023 Volkswagen ID.4
The Treasury Department – of which the IRS is a part – published a request for public comment on the proposed EV tax credit rules on Wednesday. The period for public comment is often before regulators formally adopt new rules.
In the coming weeks, the Treasury Department will convene a number of initial roundtables with industry stakeholders, labor unions, environmental and climate justice advocates, and others. other to hear directly from multiple voices,” the ministry said in a statement.
Automakers are awaiting finalization of the rules to determine which electric cars will qualify for the full $7,500 federal tax credit. The Inflation Reduction Act (IRA) increased the credit, but added new requirements for US assembly and US battery content that would be determined by this rule-making process.
2023 Nissan Ariya – preview drive (Euro specs)
The IRA has made extensive requirements for minerals and supply chainsbut the rules that are currently being drafted will provide a full picture of exactly which electric vehicles will qualify for the federal tax credit.
It is not yet clear which vehicles will be eligible in 2023, although it is clear that the improved EV tax credit significant cuts number of eligible vehicles. And now, in 2022you can still buy an EV or PHEV and claim a credit — but only if it’s made in the US.
European Union and other countries Criticized the request favors US-produced content, and that content may violate World Trade Organization rules.
