An additional piece of the section 30D puzzle arrived last Friday when the Department of the Treasury (Treasury) and Department of Energy (DOE) released final rules (Treasury Rule and DOE Rule). Largely tracking the proposed regulations, which we described in our prior blog posts (here and here), but with notable changes, these rules provide further clarity to the electric vehicle sector, essential to foster the widespread EV adoption in the United States.Continue Reading Further Clarity to the Electric Vehicle Industry and Consumers Is Here, But It Is Not Done
Treasury and the IRS provide its first set of proposed guidance and a white paper on the clean vehicle credit
On December 29, 2022, Treasury released a white paper indicating the anticipated direction of proposed guidance on the critical mineral and battery component requirements for the new clean vehicle credit under section 30D. The guidance will be critical to automakers and consumers seeking to qualify for tax credits available for purchase of EVs under the Inflation Reduction Act.
Continue Reading Treasury and the IRS provide its first set of proposed guidance and a white paper on the clean vehicle credit
The Climate Crisis and China
This blog is the third in a series, “The ABCs of the AJP.”
An animating principle of President Biden’s American Jobs Plan (AJP) is the urgency to address climate change. But a cross-current is competition with China. This comes through not as subtext, but as the stated purpose. According to the White House, “the President’s plan will unify and mobilize the country to meet the great challenges of our time: the climate crisis and the ambitions of an autocratic China.”Continue Reading The Climate Crisis and China