The Clean Vehicle Tax Credit, found at 26 U.S.C. § 30D, as modified by the Inflation Reduction Act, is key to meeting the goal of 100% EV sales by 2030. We requested that Treasury provide clarity surrounding the calculation of the value of critical minerals. For determining the countries with whom the United States has a free trade agreement, ZETA recommended using the list maintained by the United States Customs and Border Protection (CBP). ZETA urged Treasury and IRS to issue guidance that is verifiable and reflects competencies in the supply chain. ZETA also asked that Treasury apply a de-minimis standard under the FEOC requirements. Finally, provided guidance on provisions regarding vehicle classifications and manufactured price, as well as record-keeping and reporting. Full text here.
