The latest Treasury Department rules are out. Which electrified vehicles qualified for the $7,500 incentive under the Inflation Reduction Act, and which fell short?
At its peak in the mid 20th century, manufacturing had 40% of all profits and 29% of the nation’s jobs. Today, finance has 40% of profits with 5% of the jobs.
The provision is estimated to raise $313 billion, and the Joint Committee on Taxation finds that manufacturers would be responsible for paying nearly half of it.