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US Sen. Warnock: Electric car tax credit needs ‘flexibility’

KVIA

By RUSS BYNUM
Associated Press

SAVANNAH, Ga. (AP) — U.S. Sen. Raphael Warnock is urging the U.S. Treasury secretary to use “flexibility” in defining how automakers and consumers qualify for a revised tax credit for Americans buying electric vehicles. The Democratic senator from Georgia sent a letter Friday to Treasury Secretary Janet Yellen raising concerns that the tax credit President Joe Biden signed into law last month could place some automakers at a competitive disadvantage. They include Hyundai, whose EVs would no longer qualify for the credits of up to $7,500 until the company opens its first U.S. electric vehicle plant in Georgia. That’s not expected until 2025. Congress revised the credit so that it only applies to electric vehicles assembled in North America.

Article Topic Follows: AP National Business

Associated Press

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