EU Claim Biden's American EV Tax Incentive Discriminatory --- What?

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   Sharlee01posted 2 years ago

   
   Jan 20, 2023 ---   "WASHINGTON (Reuters) - Major unions and public interest and environmental groups are urging President Joe Biden to reject efforts by the European Union and other foreign governments to revise U.S. electric vehicle tax incentives.
   
   The $430 billion U.S. Inflation Reduction Act (IRA) passed in August restricts $7,500 consumer tax credits to North American-made EVs, but the U.S. Treasury in December said consumers leasing vehicles assembled outside North America could benefit from the $7,500 commercial green vehicle tax credit.
   
   Foreign governments have been pressing the Biden administration to do more to expand credit eligibility.
   
   "The IRA has the potential to be a gamechanger for the industrial towns hit hardest by decades of offshoring," said a made public on Friday from the United Auto Workers, International Association of Machinists and Aerospace Workers, United Steelworkers, the Sierra Club, and Public Citizen.
   
   "We strongly urge you to ensure that the IRA is implemented as intended, without delays or technical changes that erode its promises to U.S. workers and climate goals," it said.
   
   The White House did not comment on the letter on Friday but pointed to Biden's statements in September that said the IRA bill would create "good-paying union jobs" and "increase energy security."
   
   EU Ambassador to the United States Stavros Lambrinidis said at the Washington auto show on Thursday that he was concerned by the "discriminatory" provision of the EV tax credit, arguing it means U.S. consumers "will have much less choice in what they can buy" that can receive the $7,500 credit.
   
   "You can move to green without discriminating," Lambrinidis said."
   https://www.reuters.com/technology/unio … 023-01-20/
   
   
   Should the cash from Inflation Reduction Act be benefiting US citizens or the citizens of the EU?   Should American taxpayers be sending out tax credits to EU automakers?  Was the IRA  not meant to offer high-paying jobs here in America, and bolster our American industries?  I mean that's what old Joe stated, ad nauseam?
   
   In my opinion, I do not feel our taxes dollars that are ultimately paying for Biden's big spending IRA bill (Tax dollars that are an if-come at best) should benefit any other offshore industries, that provide EVs.
   
   If come source comment source -  Source ---  This is what we have been told ---  " $124 billion: savings over 10 years the Inflation Reduction Act will generate from collecting taxes already owed by wealthy people and large corporations, according to the Congressional Budget Office. And no family making less than $400,000 will see their taxes go up a penny. Aug 15, 2022"   https://www.whitehouse.gov/briefing-roo … a%20penny.
   
   I think it logical to ask, but, what if? What if Joe's big plan to squeeze the rich does not work? I mean nothing is written in stone.
   
   Hopefully, Biden does not change his mind or should I say go back on his word to only provide consumer tax credits to North American-made EVs.

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      wildernessposted 2 years agoin reply to this

      Personally, I would rather see the EV tax credits ended entirely.  As non-refundable tax credits, it is only the wealthy that can benefit from them, leaving the poorer to provide the cash needed to subsidize those wealthy that purchase one.
      
      Unless one is pretty well off, with a pretty high income, there will be no subsidy available.

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         Sharlee01posted 2 years agoin reply to this

         I am with you in regard to doing away with the tax credit.  It would certainly be only the more wealthy that would benefit, and the auto industries as well as any businesses that benefit due to sales of the EVs. This tax is nothing but a   -- I will scratch your back if you scratch mine Union BS. The rich get rich, and the taxpayer gets poorer. This is all about votes, and power.
         
         I have a thorn in my side to think this ass clown Biden could change up the game to include the EU in his cheap ploy. I do not want to see taxpayers support the EU's industries making cash.
         
         Hey, with all that is going on with Biden, I think he should have already been packing his bags.  Trump would have been impeached last week!

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            wildernessposted 2 years agoin reply to this

            I think the same about solar panels.  I must see a dozen more more advertisements every day to put solar on my roof.  I get calls monthly.  And they are all centered around a non-refundable tax credit that is available only to the wealthy.  The poorer people can support the subsidy, and pay for it, but cannot receive the same "help" the wealthy do.

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               Sharlee01posted 2 years agoin reply to this

               Soooo agree.

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