Today, Senator Reverend Warnock introduced the Affordable Electric Vehicles for America Act which would create a phase-in period for the electric vehicle (EV) sourcing and manufacturing requirement provisions for automakers that was included in the final version of the Inflation Reduction Act (IRA)
The Affordable Electric Vehicles for America Actwill ensure Georgians benefit, immediately and fully, from the cost-cutting and job-creating measures from the IRA while still incentivizing American manufacturing
Last week, Senator Reverend Warnock pushed the Biden Administration to implement the EV tax credit provision with “maximum flexibility” to ensure Georgia car buyers and manufacturers can fully benefit from the electric vehicle tax credit
Senator Reverend Warnock: “I’m focused squarely on helping Georgia car buyers save money and helping car manufacturers who do business in our state thrive. The Affordable Electric Vehicles for America Act will lower costs for Georgians and provide consumers more options when purchasing an electric vehicle, while also supporting good-paying jobs across our state and bolstering Georgia automakers like Hyundai”
ICYMI from WABE: Warnock to introduce bill phasing in key requirement for EV tax credits
Washington, D.C. – Today, U.S. Senator Reverend Raphael Warnock (D-GA) introduced the Affordable Electric Vehicles for America Act which would create a phase-in for the electric vehicle (EV) sourcing and manufacturing requirement provisions for automakers that was included in the final version of the Inflation Reduction Act (IRA). The Affordable Electric Vehicles for America Act will ensure Georgians may immediately and fully benefit from the cost-cutting and job-creating provisions of the IRA, including tax credits that will lower the costs of electric vehicles.
“I’m focused squarely on helping Georgia car buyers save money and helping car manufacturers who do business in our state thrive. The Affordable Electric Vehicles for America Actwill lower costs for Georgians and provide consumers more options when purchasing an electric vehicle, while also supporting good-paying jobs across our state and bolstering Georgia automakers like Hyundai. I’m going to do everything I can to get this bill over the finish line,” said Senator Reverend Warnock.
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. Georgia automakers need additional time to meet these new on-shoring requirements and bring planned domestic EV facilities online, including the forthcoming Hyundai EV facility scheduled to open in 2025 in Bryan County, GA.
Senator Warnock has been a vocal champion for creating green jobs and reducing America’s reliance on fossil fuels. Last week, Senator Reverend Warnock pushed the Biden Administration to implement the IRA’s EV tax credit provision with “maximum flexibility” to ensure Georgia car buyers and manufacturers can fully benefit. In February, Senator Warnock announced that he secured nearly $20 million in funds from the Bipartisan Infrastructure Law to build out Georgia’s EV infrastructure network across the state. Additionally, Senator Warnock has been in frequent contact with Hyundai about the auto manufacturer’s footprint and future in Georgia, and has encouraged efforts on the federal level to bolster the company’s presence—as well as EV and EV battery manufacturing, in general—in the state.
Click here for the full bill text.
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