Joe Biden Falsely Claims ‘Inflation Reduction Act’ Does Not Subsidize Foreign-Made Electric Cars
CLAIM: President Joe Biden claimed the “Inflation Reduction Act,” signed into law on Tuesday, gives tax credits to American consumers for electric vehicles “if those vehicles were made in America.”
VERDICT: False. The Inflation Reduction Act does provide tax credits for electric vehicles made in America — but also for those made in Mexico and Canada as well.
As Biden signed the Inflation Reduction Act, he gave remarks on the legislation that is set to spend nearly $740 billion, mostly on green energy projects. In those remarks, Biden suggested that...