Toyota urges House committee to reject ‘clearly partisan proposal’ on expanded EV tax credit

Japanese automaker Toyota urged a House committee to reject an “apparently biased proposal” that would expand tax credits for union-made electric vehicles.

In a letter addressed to the chairman of the House Ways and Means Committee Richard NeillRichard Edmund Neilhouse Democrats eye 26.5 percent corporate tax rate Democrats see .5T spending target slipping House panel puts forward solar, environmental justice tax credit (D-Mass.) and Ranking Member kevin bradyKevin Patrick Brady20 Years Later: Washington Policymakers Remember 9/11 Live Coverage: House Panel Begins Work On .5T Spending Package Democrats Hit Crisis To Pass Biden AgendaRead More (R-Texas), Toyota said the company supports its mission to reduce carbon emissions and sells electric vehicles, believing the proposal to offer additional tax credits to electric cars was discriminatory.

“Our general goal is simple: reduce the amount of carbon autos release into the atmosphere by putting more electric vehicles (EVs) on the road. While the EV tax proposal before you move toward that goal, it includes provisions such as: That would discriminate against nearly half of the nation’s autoworkers and put the environment second on the unrelated agenda,” top Toyota executives at US manufacturing facilities wrote in a statement.

On Friday, House Democrats introduced a proposal to expand tax credits for electric vehicles. Most electric vehicles will have a tax credit of $7,500. However, according to Reuters, if the cars are unionized, this would increase to $12,500. Under the proposal, General Motors, Ford Motor Company and Chrysler parent Stelantis NV will benefit from the proposal that they hire unionized employees.

Tesla and foreign automakers with facilities in the US will suffer, According to the news outlet. Toyota and Honda have come out against the proposal, on which the committee is due to vote on Tuesday.

Toyota argued in its letter to the committee that its benefits and compensation were “competitive” to other companies that had employed unionized employees and that “an EV made by autoworkers who choose to unionize, that vehicle would Don’t make it better for the environment.”

“The current Ways and Means Committee draft aims to accelerate the deployment of electrified vehicles by discriminating against American autoworkers based on their preferences. It is unfair, it is wrong, and we ask you to decline this biased offer. Says,” argued Toyota’s top executives in their letter.

The automobile company also said that the tax credit is in favor of those who can already buy electric vehicles. Those earning an adjusted income of up to $400,000 will be eligible to receive a tax credit under the proposal. Head of household earning up to $600,000 or up to $800,000 in the case of a joint return would also be eligible.

According to The Detroit News, there are price ranges at which electric vehicles will be eligible for the program.

“Given the competing social preferences the ‘Build Back Better’ plan is intended to address, does it make sense to give a tax break of $12,500 to those who can spend as much on a vehicle as some Americans spend at home? Huh?”

Hill has contacted Neil’s office and Ways and Means Republican for comment.

Nevertheless, several environmental and union groups have issued their support for the proposal, apart from Ford, GM and Stelantis.

“AFL-CIO wholeheartedly supports the pro-union provisions of the Electric Vehicle Tax Credit that the Ways and Means Committee is flagging this week. A bonus tax credit for EVs assembled in a union shop will provide high standards for all autoworkers. will support,” the American Federation of Labor and Congress of Industrial Organizations (AFL-CIO) said in a statement.

Catherine Garcia, acting director of the Sierra Club’s Clean Transport for All campaign, said in a statement that “it was disappointing to see automakers like Toyota and Honda lobbying against this important incentive.”

“Building healthier communities requires advancing clean cars and family-sustaining jobs in America as we improve air quality, reduce climate emissions, and achieve economic justice,” Garcia said in a statement. – is together.”

He later said, “We urge Congress leaders to take charge of this moment to advance it, while also making a major investment in the transformation of our transportation systems.”



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