WASHINGTON, D.C. — Today, U.S. Senator Tom Carper (D-Del.), Chairman of the Senate Environment and Public Works Committee and a senior member of the Senate Finance Committee, released the following statement on the U.S. Department of the Treasury’s release of guidance for implementing the Section 30D new electric vehicle (EV) tax credit in the Inflation Reduction Act.
“Making the switch to electric vehicles saves consumers money, improves our air quality and advances our climate goals. Given these benefits, I’m pleased to see the Biden administration take action to accelerate the deployment of electric vehicles in our country,” said Senator Carper. “This latest guidance by the Department of Treasury, coupled with our investments in the Inflation Reduction Act and Bipartisan Infrastructure Law, will help make new clean vehicles more affordable for Americans. It will also encourage greater investment from American companies to make these vehicles here at home—critical to ensuring that the United States leads the world into the clean energy future.”
To be eligible for the full $7,500 30D credit under the Inflation Reduction Act, electric vehicles must meet sourcing requirements for both the critical minerals and battery components contained in the vehicle. Vehicles that meet one of the two requirements are eligible for a $3,750 credit.
Senator Carper helped secure tax credits for electric vehicles and EV charging infrastructure in the Inflation Reduction Act, as well as historic investments for EV charging infrastructure in the Bipartisan Infrastructure Law. Carper has also called for stronger federal standards to reduce greenhouse gas emissions from light-duty vehicles. In a May 3, 2021 letter to U.S. Environmental Protection Agency (EPA) Administrator Michael Regan, Carper called for EPA to adopt national standards that would eliminate tailpipe pollution from all new cars by 2035.