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As the Internal Revenue Service (“IRS”) begins issuing guidance for every tax provision of the Inflation Reduction Act (“IRA”), efforts have ramped up by foreign governments and automakers on the strict battery component sourcing requirements under the 30D Clean Vehicle Credit program under the law. Under the 30D provision, for an electric vehicle (“EV”) to qualify for the full $7,500 rebate, it must adhere to strict U.S. final assembly and U.S. battery component requirements.
United States: New "Buy America" Guidance For Infrastructure Projects: Key Takeaways For Manufacturers 22 April 2022 by Frank S. Murray, Jr. and William Ball Foley & Lardner Your LinkedIn Connections with the authors On April 18, 2022, the U.S. Office of Management and Budget (OMB) issued preliminary guidance to federal agencies on how to implement the new "Buy America" requirements applicable to federally funded infrastructure projects.
On April 18, 2022, the U.S. Office of Management and Budget (OMB) issued preliminary guidance to federal agencies on how to implement the new “Buy America” requirements applicable to federally funded infrastructure projects. These new requirements, imposed by the Infrastructure Investment and Jobs Act (IIJA), take effect on May 14, 2022. This post will examine some of the key questions answered by the new OMB Guidance.
On April 18, 2022, the U.S. Office of Management and Budget (OMB) issued preliminary guidance to federal agencies on how to implement the new “Buy America” requirements applicable to federally funded infrastructure projects. These new requirements, imposed by the Infrastructure Investment and Jobs Act (IIJA), take effect on May 14, 2022. This post will examine some of the key questions answered by the new OMB Guidance.
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