0
0

Providing for congressional disapproval under chapter 8 of title 5, United States Code, of the rule submitted by the Department of the Treasury relating to "Clean Vehicle Credits Under Sections 25E and 30D; Transfer of Credits; Critical Minerals and Battery Components; Foreign Entities of Concern".

7/12/2024, 11:22 AM

Summary of Bill HJRES 179

Bill 118 hjres 179 is a piece of legislation that aims to disapprove of a rule submitted by the Department of the Treasury regarding clean vehicle credits, transfer of credits, critical minerals and battery components, and foreign entities of concern. The rule in question relates to sections 25E and 30D of the United States Code, which provide incentives for the production and use of clean vehicles.

The bill seeks to use the Congressional Review Act to overturn this rule, which was put forth by the Department of the Treasury. The rule in question addresses various aspects of clean vehicle credits, including the transfer of credits between different entities, the sourcing of critical minerals and battery components, and the involvement of foreign entities in the clean vehicle industry.

Supporters of the bill argue that the rule is overly burdensome and restrictive, hindering the development and adoption of clean vehicles in the United States. They believe that by disapproving of this rule, Congress can create a more favorable environment for the growth of the clean vehicle industry. Opponents of the bill, on the other hand, argue that the rule is necessary to ensure that clean vehicle credits are used effectively and efficiently. They believe that overturning this rule could have negative consequences for the clean vehicle industry and hinder progress towards reducing emissions and combating climate change. Overall, Bill 118 hjres 179 is a contentious piece of legislation that highlights the ongoing debate surrounding clean energy and environmental policy in the United States. It remains to be seen how Congress will ultimately decide on this issue.

Congressional Summary of HJRES 179

This joint resolution nullifies the rule titled Clean Vehicle Credits Under Sections 25E and 30D; Transfer of Credits; Critical Minerals and Battery Components; Foreign Entities of Concern, which was issued by the Internal Revenue Service on May 6, 2024. The rule provides guidance on the transfer of any new clean vehicle tax credit or previously owned clean vehicle tax credit amounts to dealers that are eligible to receive advance payments of such tax credits. The rule also establishes the requirements for determining if the battery components and applicable minerals contained in a vehicle battery comply with foreign entity of concern restrictions.

Current Status of Bill HJRES 179

Bill HJRES 179 is currently in the status of Bill Introduced since July 2, 2024. Bill HJRES 179 was introduced during Congress 118 and was introduced to the House on July 2, 2024.  Bill HJRES 179's most recent activity was Referred to the House Committee on Ways and Means. as of July 2, 2024

Bipartisan Support of Bill HJRES 179

Total Number of Sponsors
1
Democrat Sponsors
0
Republican Sponsors
1
Unaffiliated Sponsors
0
Total Number of Cosponsors
0
Democrat Cosponsors
0
Republican Cosponsors
0
Unaffiliated Cosponsors
0

Policy Area and Potential Impact of Bill HJRES 179

Primary Policy Focus

Finance and Financial Sector

Alternate Title(s) of Bill HJRES 179

Providing for congressional disapproval under chapter 8 of title 5, United States Code, of the rule submitted by the Department of the Treasury relating to "Clean Vehicle Credits Under Sections 25E and 30D; Transfer of Credits; Critical Minerals and Battery Components; Foreign Entities of Concern".
Providing for congressional disapproval under chapter 8 of title 5, United States Code, of the rule submitted by the Department of the Treasury relating to "Clean Vehicle Credits Under Sections 25E and 30D; Transfer of Credits; Critical Minerals and Battery Components; Foreign Entities of Concern".

Comments

Sponsors and Cosponsors of HJRES 179

Latest Bills