A bipartisan federal tax bill, endorsed by the Automotive Service Association (ASA) and business groups such as the U.S. Chamber of Commerce, passed the U.S. House Ways & Means Committee with 40 votes in favor and 3 votes against. Congressional sources say the full U.S. House of Representatives may vote on the legislation this week. […]
U.S. Electric-Vehicle Tax Breaks May Violate Global Trade Rules
Favoring domestic industries could violate WTO rules, according to foreign officials and trade analysts. According to an article in the Wall Street Journal, European and Asian trade authorities are raising concerns that the expanded electric vehicle tax credits included in legislation signed into law by President Biden in August may violate Word Trade Organization (WTO) […]
AIADA Calls Proposed EV Tax Credit for Union Built Vehicles Discriminatory
The American International Automobile Dealers Association (AIADA) yesterday launched an awareness campaign to highlight the employment and environmental consequences that will result from the severe limitations of a proposed new tax credit for electric vehicles (EV). “There are more than 50 EV models sold in the U.S., but Congress’s proposed new $4,500 tax credit will […]
Tax Credits Available to Small Employers to Provide Paid Leave to Employees Receiving COVID-19 Vaccines
The Treasury Department and the Internal Revenue Service announced further details of tax credits available under the American Rescue Plan to help small businesses, including providing paid leave for employees receiving COVID-19 vaccinations. Eligible employers, such as businesses and tax-exempt organizations with fewer than 500 employees and certain governmental employers, can receive a tax credit […]