WASHINGTON, D.C. — Today, Chairman John Moolenaar (R-MI) expressed strong criticism of the newly announced rule by the Treasury Department regarding which electric vehicles qualify for tax credits.
In his statement, Chairman Moolenaar voiced concerns about the implications of the new rule, stating, "President Biden’s new rules will allow Chinese automakers to pocket the hard-earned money of American taxpayers. Even worse, they will further enable the CCP’s weaponization of critical supply chains, like graphite, which the CCP export-controlled last October."
Furthermore, Chairman Moolenaar highlighted the potential risks associated with the rule, emphasizing, "Instead of promoting U.S. supply chains or collective resilience with our allies and partners, this rule deepens our dangerous reliance on the PRC."
Chairman Moolenaar concluded his statement by urging for a reversal of the current course, proposing, "The Biden administration should reverse course, ban China-based and CCP-affiliated companies from receiving taxpayer dollars, and incentivize American innovation in the auto industry."
The critique presented by Chairman Moolenaar underscores the growing concerns surrounding the impact of the Treasury Department's new rule on electric vehicles and its potential implications for American taxpayers and national security.
