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☆ U.S. senator Manchin says Treasury should limit commercial EV tax credit use
▼ + stars: | 2022-12-13 | by ( David Shepardson | ) www.reuters.com time to read: +3 min

Senator Joe Manchin, a Democrat who chairs the chamber's energy panel, asked the Treasury Department on Tuesday not to allow a commercial electric vehicle tax credit to be used for consumer leasing, rental cars or ridesharing vehicle sales, rejecting a broad interpretation of the credit. Reuters first reported last week the push by South Korea and some automakers that asked the Treasury Department to allow use of the commercial electric vehicle tax credit to boost consumer EV access as well as for the purchase of ride share and rental car vehicles. The $430 billion U.S. Inflation Reduction Act (IRA) passed in August ended $7,500 consumer tax credits for electric vehicles assembled outside North America, angering South Korea, the European Union, Japan and others. The commercial credit known as "45W" does not, however, have the sourcing restrictions of the consumer credit called "30D." Hyundai (005380.KS) and Kia (000270.KS) want the U.S. Treasury to allow people leasing EVs to benefit from commercial credits and to qualify for up to a $4,000 tax credit for used EVs if they buy vehicles when leases expire.

Republican leaders had promised voters during the election they would cut the mining permit review timeline in half and boost domestic EV mining, rather than seek more supply overseas. Westerman and other Republicans will be partially stymied by Republicans' failure to wrest control of the U.S. Senate from Democrats. With their newfound control, Republicans could threaten to withhold funding from agencies perceived as taking too long to approve mines. The Resolution project is opposed by Representative Raúl Grijalva, an Arizona Democrat who will relinquish his chairmanship of the House Natural Resources Committee to Westerman. Republicans say that expanding such deals to other countries is not a priority for the new Congress.

KYIV, Ukraine — Ukraine faced widespread power outages Thursday as the country’s energy system struggled to cope with the damage from a wave of Russian attacks. Ukraine’s energy minister, Herman Halushchenko, said Thursday the government was seeking a 20% reduction in energy use and that Ukrainians had responded to the appeal to ease pressure on the country’s grid. She also has a sleeping bag designed for below freezing temperatures, a thermal blanket and even skiing clothes in case temperatures continue dropping and the strikes on energy targets continue. Current restrictions are worth it.”For months, the Kremlin said it was only after military targets — not civilian or critical infrastructure in Ukraine. The British Defense Ministry also said in an assessment this week that causing widespread damage to Ukraine’s energy network is likely the “key objective” of the Kremlin’s strike campaign.

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