Washington, DC (December 29, 2022) Today, the U.S. Department of Treasury and Internal Revenue Service (IRS) released documents with additional clarification relating to the electric vehicle (RV) tax credit provisions of the Inflation Reduction Act (IRA). The following statement can be attributed to SAFE Founder and CEO Robbie Diamond:
“It is encouraging to see the IRA implementation process moving forward. We have little time to waste given both the scale of America’s pressing energy security challenges as well as the historic opportunities provided by recent landmark legislation. Events of the past year have only reinforced the importance of SAFE’s founding mission to reduce America’s overdependence on oil in the transportation sector that strengthens our adversaries and weakens our economy.
As the world moves to an electrified future, it is imperative to reindustrialize and transform America’s energy and transportation sectors to avoid dependencies on China and other unreliable sources for critical minerals, industrial materials, and micro-electronics. That requires significant new investment and strong rules to advance domestic and allied EV supply chains and supporting electrification infrastructure. All democratic allies should be working in concert to build a strong supply chain without creating loopholes that weaken its links. We look forward to receiving the formal Treasury guidance and expect that it will reflect the IRA’s language and legislative intent.”
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SAFE is a non-partisan, non-profit policy thought leadership organization dedicated to accelerating the real-world deployment of secure, resilient, and sustainable transportation and energy solutions of the United States and its partners and allies by shaping policies, perceptions, and practices that create opportunity for all.