Democrats propose dramatic expansion of EV tax credits that favours Big Three ...Qatar

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US Democratic lawmakers on Friday proposed an expansion of tax credits for electric vehicles that includes significantly higher subsidies for union-made zero emission models assembled in the United States. The proposal, a key part of President Joe Biden’s goal to ensure EVs comprise at least 50% of US vehicle sales by 2030 and boost US union jobs, will give Detroit’s Big Three automakers a big competitive edge and has drawn criticism from foreign automakers like Honda Motor Co and Toyota Motor Corp. The tax credit for up to $12,500 per vehicle for US-made union-made zero emission models compares with a $7,500 incentive for most other electric cars — an amount that has not changed. The bill,

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