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Affordable Electric Vehicles for America Act of 2022 Bill
"To amend the Internal Revenue Code of 1986 to temporarily suspend application of the requirement that final assembly of vehicles occur within North America for purposes of the clean vehicle credit, and for other purposes."
The Affordable Electric Vehicles for America Act would delay the IRA’s phase-in period for automakers to follow specific sourcing requirements for their EVs in order for car buyers to qualify for the federal tax credit. These requirements include: requiring the EVs to be manufactured in North America; requiring EV batteries to be made domestically; and mandating that critical minerals used in battery production are only sourced domestically or from nations with whom America has a free trade agreement.
"To amend the Internal Revenue Code of 1986 to temporarily suspend application of the requirement that final assembly of vehicles occur within North America for purposes of the clean vehicle credit, and for other purposes."
The Affordable Electric Vehicles for America Act would delay the IRA’s phase-in period for automakers to follow specific sourcing requirements for their EVs in order for car buyers to qualify for the federal tax credit. These requirements include: requiring the EVs to be manufactured in North America; requiring EV batteries to be made domestically; and mandating that critical minerals used in battery production are only sourced domestically or from nations with whom America has a free trade agreement.
