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What will be the impact on U.S. EV market share if H.R. 7980 is enacted by December 31, 2025?
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Market share reports from industry analysts
Story
U.S. House Passes H.R. 7980 to Limit EV Subsidies for Chinese Manufacturers
Sep 12, 2024, 03:51 PM
The U.S. House of Representatives has passed the 'End Chinese Dominance of Electric Vehicles in America Act' (H.R. 7980), aimed at limiting federal subsidies for electric vehicles (EVs) produced by Chinese manufacturers. The bill seeks to block taxpayer dollars from benefiting Chinese companies, a move supported by several Republicans and a handful of Democrats. The legislation is seen as a response to the Biden-Harris administration's policies that allegedly allow Chinese companies to profit from U.S. tax credits. The bill also aims to close loopholes in the 2022 tax-and-climate law, which some lawmakers argue subsidize Chinese manufacturing companies at the expense of American taxpayers. Notably, 192 Democrats voted against the bill, while 191 Democrats voted in favor of sending subsidies to Chinese auto-battery manufacturers.
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