Biden electric vehicle push hits setback in US Senate

Biden electric vehicle push hits setback in US Senate

A bid by the White House to dramatically boost electric vehicle tax credits hit a major roadblock on Sunday when a key Senate Democrat said he would not support a $1.75 trillion domestic investment bill.

West Virginia’s Joe Manchin appeared to deal a fatal blow to President Joe Biden’s signature domestic policy bill, known as Build Back Better, which also aims to expand the social safety net and tackle climate change.

The bill includes increasing the current $7,500 EV tax credit to up to $12,500 for union-made US vehicles as well as creating a credit of up to $4,000 for used vehicles. The bill would also again make General Motors and Tesla Inc eligible for tax credits after they hit the 200,000-vehicle cap on the existing $7,500 credit.

The bill also includes a 30% credit for commercial electric vehicles.

GM and Ford are both launching electric pickup trucks in 2022…

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