EV Tax Credit Loopholes Create Blank Check For China

WASHINGTON, D.C. – The National Mining Association (NMA) issued the following statement on the new Biden administration Internal Revenue Service final tax credit guidelines for electric vehicle supply chains, which provide grace periods and exceptions not included in the Inflation Reduction Act.

Rich Nolan, NMA president and CEO, said, “Congress created these tax incentives to secure our supply chains and generate American jobs while supporting EV adoption; they did not intend for loopholes to be created that essentially amount to a blank check from the American Taxpayer to China. We need to be using every tool in our toolbox to aggressively address our critical mineral supply chain vulnerability and build the secure, reliable mineral supply chains our economic and national security demand; loosening requirements set by Congress is not the answer.”

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