WASHINGTON, D.C. — Today, the Treasury Department hosted a virtual roundtable with key stakeholders from across the automotive industry, including two dozen of the largest carmakers and vehicle battery makers, on implementation of the clean vehicle tax incentives in the Inflation Reduction Act. The roundtable was led by Treasury Assistant Secretary for Tax Policy Lily Batchelder and Treasury Climate Counselor John Morton.
The roundtable is part of a series of discussions the Treasury Department is hosting as it solicits input from the public to inform its work implementing the Inflation Reduction Act. Nearly three quarters of the Inflation Reduction Act’s $369 billion climate change investment – $270 billion – is delivered via tax incentives, putting Treasury at the forefront of this landmark law.
The roundtable featured 32 leaders from groups spanning the automotive industry, including auto industry trade organizations, automakers, car battery suppliers, and the United Auto Workers union.
Batchelder and Morton highlighted how the Inflation Reduction Act’s tax incentives will grow the U.S. electric vehicle market and strengthen the clean vehicle supply chain.
The following companies and organizations participated in today’s roundtable:
- Alliance for Automotive Innovation
- American Financial Services Association
- Autos Drive America
- Battery Materials & Technology Coalition
- Electric Drive Transportation Association
- National Automobile Dealer Association
- United Auto Workers
- Zero Emission Transportation Association
- Ford Motor Company
- General Motors
- Jaguar/Land Rover
- LG Energy Solution
- Lucid Motors
- Samsung SDI
- SK On
- Volvo Cars
For more information on Treasury’s stakeholder engagement around the Inflation Reduction Act climate and clean energy provisions, please see:
- Treasury Seeks Public Input on Implementing the Inflation Reduction Act’s Clean Energy Tax Incentives
- Fact Sheet: Treasury, IRS Open Public Comment on Implementing the Inflation Reduction Act’s Clean Energy Tax Incentives
- Fact Sheet: Four Ways the Inflation Reduction Act’s Tax Incentives Will Support Building an Equitable Clean Energy Economy
- Readout: Stakeholder Roundtable on Clean Power Generation and the Inflation Reduction Act
- Readout: Stakeholder Roundtable on Climate Impact, Equity, and the Inflation Reduction Act
- Readout: Stakeholder Roundtable on Investor Perspectives on Climate Change, Clean Energy, and the Inflation Reduction Act
- Treasury Seeks Public Input on Additional Clean Energy Tax Provisions of the Inflation Reduction Act