• Email Us: [email protected]
  • Contact Us: +1 718 874 1545
  • Skip to main content
  • Skip to primary sidebar

Medical Market Report

  • Home
  • All Reports
  • About Us
  • Contact Us

Toyota, Honda urge Congress to reject expanded tax incentive that would benefit Ford, GM, Stellantis

September 14, 2021 by David Barret Leave a Comment

Toyota Motor and Honda are urging legislators to reject a bill that would expand tax incentives for union-made electric vehicles that are built in the United States.

The proposal – which Toyota blasted as “blatantly biased” and “exorbitant” in a letter to Congress – would expand the federal tax incentives from $7,500 to as much as $12,500 for union- and domestically manufactured cars. Vehicles with batteries manufactured in the U.S. would be eligible for an additional $500. If the legislation passes, vehicles from automakers like Toyota, Honda and Tesla would be excluded from the expanded credit, while the “Big Three” manufacturers in Detroit would all qualify.

“The current [bill] draft makes the objective of accelerating the deployment of electrified vehicles secondary by discriminating against American autoworkers based on their choice not to unionize,” Toyota said in a letter to lawmakers. “This is unfair, it is wrong, and we ask you to reject this blatantly biased proposal.”

The automaker further said that the bill favors the wealthy – people that may not need public funds to purchase an electric vehicle. There is a means testing provision in the bill, that would limit access to the credit to individuals making an adjusted income of up to $400,000, or households that make up to $800,000. Whether to set an income cap – and what that income cap should be – has been a major point of contention between Congressional Democrats and Republicans.

The bill also received criticism from Tesla CEO Elon Musk, who said on Twitter that it was “written by Ford/UAW lobbyists, as they make their electric car in Mexico. Not obvious how this serves American taxpayers.”

This is written by Ford/UAW lobbyists, as they make their electric car in Mexico. Not obvious how this serves American taxpayers. https://t.co/FUUXARHlby

— Name (@elonmusk) September 12, 2021

This would be the first such increase to the up to $7,500 tax credit for EVs since it was put into effect over a decade ago. The bill would also do away with a stipulation that exempts vehicles made by OEMs that have sold over 200,000 EVs from the credit, meaning that General Motor and Tesla cars would once again be eligible.

The bill did receive praise from GM, Ford Motor and Stellantis, three major automakers with workforces represented by the United Auto Workers union. The UAW also supports the proposal.

It’s being considered Tuesday by the House Ways and Means Committee. The expanded credit just one part of a massive $3.5 trillion budget reconciliation bill that’s currently being debated by Congress and that includes a whole slew of socially progressive proposals meant to target education, healthcare, and climate change.

Source Link Toyota, Honda urge Congress to reject expanded tax incentive that would benefit Ford, GM, Stellantis

David Barret
David Barret

Related posts:

  1. BoE’s Saunders says interest rates may rise next year
  2. Seqera Labs grabs $5.5M to help sequence Covid-19 variants and other complex data problems
  3. Stellantis joint venture with China’s GAC to close one of two plants
  4. Howard University cancels classes after ransomware attack

Filed Under: News

Reader Interactions

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Primary Sidebar

  • Did You Know The World’s Largest Waterfall Is Underwater?
  • Video Game Study Found Out What People Do When The World Ends, And It’s Exactly What You’d Expect
  • How Do We Predict The Weather? Find Out More In Issue 40 Of CURIOUS – Out Now
  • You Should Never Leave These Foods In Your Fridge Door (But We Bet You Do)
  • These Gullies On Mars Look Carved – We Might Finally Know What Created Them
  • Potential Environmental Trigger For Autism Identified, 3I/ATLAS’s Tail Appears To Have Changed Direction, And Much More This Week
  • Spaghetti Has Inner Secrets We’re Only Just Learning About
  • How Far Back In Time Could You Go And Still Understand English?
  • We Now Know How The First People Reached America – And It Wasn’t On Foot
  • Two Major Coral Species Now Functionally Extinct In Florida Keys, After Record-Breaking Marine Heatwave
  • A “Super-Earth” In The Habitable Zone Is Half The Distance To Comparable Worlds
  • Adorable But Critically Endangered Bornean Orangutan Born In Conservation Success
  • How Did The FDA Settle On The “2,000 Calories Per Day” Guideline?
  • Comet 3I/ATLAS Losing At Least Two Kangaroos’ Worth Of Dust Every Second
  • Mummified Dinosaur Duo Prove They Had Hooves, Marking “The First Confirmed Hooved Reptile”
  • What Do The Numbers On Your Toaster Really Mean?
  • NASA Vs. Elon Musk: Is A Moon Landing This Decade Off The Cards?
  • Scientists Explored Some Of The Deepest Parts Of The Ocean And Spotted Some Seriously Weird Deep-Sea Creatures
  • 500-Meter-Tall Megatsunami Struck Remote Alaskan Fjord After Massive Landslide
  • 3I/ATLAS, CKM Syndrome, And Mosquitoes’ Final Frontier
  • Business
  • Health
  • News
  • Science
  • Technology
  • +1 718 874 1545
  • +91 78878 22626
  • [email protected]
Office Address
Prudour Pvt. Ltd. 420 Lexington Avenue Suite 300 New York City, NY 10170.

Powered by Prudour Network

Copyrights © 2025 · Medical Market Report. All Rights Reserved.

Go to mobile version