Oliver McPherson-Smith on the Biden Administration’s EV Tax Credit Loophole
WASHINGTON, D.C. - Today, the America First Policy Institute (AFPI) released the following statement from Oliver McPherson-Smith, Ph.D., Director of the Center for Energy & Environment at AFPI, on the Biden Administration’s proposed implementation of the Inflation Reduction Act’s electric vehicle (EV) tax credit.
“The Chinese Communist Party’s (CCP) insidious influence over global mineral supply chains constitutes a direct threat to America’s economic and national security. Despite this, the Administration is proposing a three-year loophole that would potentially allow companies controlled by the CCP to enjoy a taxpayer-funded payday equal to as much as $225 per electric vehicle.
Today’s proposed rule demonstrates the Biden Administration’s readiness to sacrifice America’s economic and national security to advance its radical agenda.”