The president’s “Made in America” plan has drawn accusations of protectionism from Europe as the United States tries to keep its Western allies aligned against Russia.
The French finance minister, Bruno Le Maire, said that U.S. subsidies will inflict damage to Europe’s economy.
The French finance minister, Bruno Le Maire, said that U.S. subsidies will inflict damage to Europe’s economy.
No Republican in Congress voted for the Inflation Reduction Act. But their districts and states will greatly benefit from the investments spurred by the law.
The president’s plans to bolster America’s electric vehicle and battery production have opened a rift in relationships in Asia and Europe.
Representative Dina Titus of Nevada has been targeted by congressional Republican leaders in their quest to win control of the House.
The project also illustrates how difficult it is to get lithium out of the ground and break China’s dominance in processing the metal and turning it into batteries.
Rebates and tax credits can lower the cost of solar panels, energy-efficient appliances and electric vehicles.
Investments in battery factories, solar panel manufacturing and mining will help the Biden administration meet targets for reducing greenhouse gases.
Getting off fossil fuels can bring price stability and significant savings, but consumers may also face “greenflation.”