No American Tax Dollars To CCP Act
Key claim: The bill would bar companies from receiving federal clean vehicle and advanced energy project tax credits if they use technology licensed from, or have substantial ownership and partnership ties to, Chinese or other foreign entities of concern.
Abstract
(HR2951 · 118th Congress) No American Tax Dollars To CCP Act This bill expands prohibitions under the clean vehicle tax credit on battery components manufactured or assembled by a foreign entity of concern to a domestic corporation that is controlled by, operated by, or under the substantial influence of a foreign entity of concern (e.g., a state-backed Chinese company); a domestic corporation that relies on technology provided through a licensing agreement with a foreign entity of concern; a foreign corporation organized outside of China, Russia, North Korea, and Iran but that is owned more than 20% by 1 or more foreign entities of concern; or any member or partner of a joint venture or partnership in which at least one other partner or member is a foreign entity of concern. The bill also renders ineligible for the qualifying advanced energy project tax credit any project that incorporates or utilizes technology provided through a licensing agreement with the foreign entities of concern described by this bill. Latest action (2023-04-27): Referred to the House Committee on Ways and Means.
Why this matters
The proposal would make covered foreign technology licenses and corporate ties grounds for losing specified energy tax credits, potentially affecting U.S. manufacturers and importers using those arrangements and foreign exporters supplying technology under them. If enacted, it could change sourcing and partnership incentives, but the finding establishes no consumer-price effect; introduction alone does not change eligibility.