23 Jun 22

Automaker CEOs continue to push legislative changes in US

Automakers continue to push legislative changes in US

CEOs of automakers and industry suppliers in the United States continue to pressure congress to pass legislation which will support their industries, and the latest push is related to the need for semiconductor production in the country.

The executives are urging congress to pass $52 billion in federal funding to subsidize semiconductor production in the US, Reuters reported.

This comes only a few days after a push by automobile industry execs which were asking congress to make legislative changes regarding electric vehicles (EV) earlier this month. For one, CEOs are asking legislators to lift the federal government’s cap on the number of EVs that are eligible for a tax credit of up to $7,500.

Currently, the credit begins phasing out once a company sells 200,000 plug-in electric vehicles. GM and Tesla are the only companies to have exceeded the limit so far, but other OEMs are expected to reach the limit soon. 

Among the CEOs campaigning for the changes are those from General Motors, Ford, Chrysler, Stellantis, and Toyota Motor North America.

Authored by: Daniel Bland