Please join us for the next installment of the Morgan Lewis Automotive Hour Webinar series, focused on the 2023 congress's potential impact on EVs.
This Automotive Hour will provide an overview of recent and upcoming congressional actions and their impact on electric vehicles (EVs). Our panelists will be joined by guest speaker Catherine Boland, vice president of legislative affairs for MEMA, The Vehicle Suppliers Association, to discuss how the auto and truck supplier community views its role in the EV debate.
Key Takeaways:
- Today’s US Congress is behind one of the largest investments in electric vehicles in US history. With a large role overseeing various departments and agencies tasked with implementing the federal funding allocated to promote electric vehicle (EV) adoption, Congress likely has several actions coming down the pipeline as the Biden administration seeks to fulfill its EV objectives.
- On April 18, 2023, Speaker of the House Kevin McCarthy introduced a debt limit bill that seeks to repeal the clean energy tax credits from the Inflation Reduction Act (IRA), much of which is targeted toward electric vehicle manufacturing and development. The IRA itself did not follow traditional legislative history with extensive committee reviews and debate, so it’s expected Congress will provide guidance as the regulations and funding opportunities are rolled out.
- The administration is also expected to continue looking at trade agreements to expand the number of non-US countries acceptable to source critical minerals for battery manufacturing that are eligible for IRA funding. But a recent trade agreement with Japan has proven controversial with the Senate Finance Committee Chairman Ron Wyden, who asserts that the administration does not have the authority to unilaterally enter into free trade agreements. It is likely to spur additional debate and could prompt legislative action from Congress.
- Congress and the administration are taking a carrot-and-stick approach to encourage the electrification of the transportation sector and a net-zero transportation fleet. While the IRA green energy tax credits and federal funding represent the carrot, the US Environmental Protection Agency introduced the stick recently with significant new tailpipe emission standards for post-2026 vehicles for light-duty and medium fleets.
Morgan Lewis Automotive Hour is a series of automotive and mobility industry–focused webinars led by members of the Morgan Lewis global automotive team. The 2023 program is designed to provide a comprehensive overview on a variety of topics related to clients in the automotive and mobility industry. View past and upcoming presentations here >>