Washington, DC – Today, Senator Joe Manchin (D-WV), Chairman of the U.S. Senate Energy and Natural Resources Committee, issued the following statement on the proposed rules by the U.S. Department of the Treasury that would make it easier for Foreign Entities of Concern (FEOC) to take advantage of the Inflation Reduction Act’s (IRA) 30D Clean Vehicle Tax Credit while hurting American taxpayers and increasing our reliance on foreign adversaries, like China.
“I remember waiting in line at the gas station in 1974 after the oil embargo, and I can tell you that I do not intend to wait in line for a battery produced in China if I am forced to buy an EV. The United States has never had to rely on foreign adversaries to build our cars and trucks. We’ve always been able to make our own transmissions, our own alternators, and our own engines, and I do not understand why President Biden is allowing his administration to now route our essential supply chains through China.
“The proposed Treasury rules on Foreign Entities of Concern are another example of the Biden administration clearly breaking the law to try to implement a bill that it could not pass. The Inflation Reduction Act clearly states that consumer vehicles are ineligible for tax credits if “any of the applicable critical minerals contained in the battery” come from China or other foreign adversaries after 2024. But this administration is, yet again, trying to find workarounds and delays that leave the door wide open for China to benefit off the backs of American taxpayers. The Inflation Reduction Act is a once-in-a-lifetime opportunity to onshore our supply chains and invest in American workers. I will take every avenue and opportunity to reverse this unlawful, shameful proposed rule and protect our energy security, that includes pushing the Treasury Department to make revisions, pursuing a Congressional Review Act resolution and supporting any lawsuit against the rule.”