Toyota, Honda oppose U.S. House electric vehicle tax plan:
Toyota Motor Corp (7203.T) and Honda Motor Co (7267.T) on Saturday sharply criticized a proposal by Democrats in the U.S. House of Representatives to give union-made electric vehicles in the United States an additional $4,500 tax incentive.
Toyota said in a statement that the plan unveiled late Friday discriminates "against American autoworkers based on their choice not to unionize."
The bill, set to be voted on Tuesday by the Democratic-led House Ways and Means Committee as part of a proposed $3.5 trillion spending bill, would benefit Detroit's Big Three automakers, which have union-represented auto plants. read more
The proposal, estimated to cost $33 billion to $34 billion over 10 years, would boost to up to $12,500 the maximum tax credit for electric vehicles, up from the current $7,500. The $12,500 figure includes a $500 credit for using U.S.-produced batteries.
(Score: 4, Insightful) by fustakrakich on Tuesday September 14 2021, @12:01AM (2 children)
You might get 1 trillion, depends what Joe says...
This bill will have to be tacked on to a defense appropriations bill during one of those midnight sessions
Why can't we just remove the tax incentives given for overseas labor?
La politica e i criminali sono la stessa cosa..
(Score: 3, Interesting) by Anonymous Coward on Tuesday September 14 2021, @12:25AM
Oh goodness no, because then you'd have to remove the tax penalty for repatriating profits, and that would ... result in ... something-something-something corporate vampire squid death cult ... uh, something dreadful.
The law of unintended consequences is the one law that the US congress rabidly applies (mostly to itself, really).
(Score: 0) by Anonymous Coward on Tuesday September 14 2021, @08:04PM
Because that would start a tariff war most likely...