Today, Congressman Keith Self introduced the Foreign Automobile Industry Restriction on Electric Vehicle Tax Credits (FAIR-EV Tax Credits) Act. This bill would prevent our foreign adversaries from receiving tax credits intended for Electric Vehicles as permitted in the Democrat-led Inflation Reduction Act of 2022.
Currently, Chinese companies are partnering with American companies to take advantage of these tax credits, thereby strengthening China at the expense of American taxpayers.
One troubling example can be found at a Michigan joint enterprise manufacturing plant run by Ford and China’s Contemporary Amperex Technology Company Limited, (CATL). Not only is China’s CATL saving money at the expense of Americans, but CATL also has the authority to shut down the plant in the event of political unrest between the United States and China.
“As our great power competition heats up, it is vital to our nation’s security to cease economic handouts that would strengthen and embolden adversaries like China,” said Congressman Keith Self. “Providing tax breaks to Chinese companies affiliated with the Chinese Communist Party is ridiculous. It is undermining U.S. manufacturers while strengthening China and its economy.”
Congress must ensure that our foreign adversaries cannot exploit tax credits which should be reserved for American manufacturers.
