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H. Rept. 118-550 1 (2024-06-11)

handle is hein.congrecreports/crptxaghk0001 and id is 1 raw text is: AUT-ENTICATED US. GOVERNMENT INFORMATION GP 118TH CONGRESS REPORT 2d Session HOUSE OF REPRESENTATIVES 118-550 END CHINESE DOMINANCE OF ELECTRIC VEHICLES IN AMERICA ACT OF 2024 JUNE 11, 2024.-Committed to the Committee of the Whole House on the State of the Union and ordered to be printed Mr. SMITH of Missouri, from the Committee on Ways and Means, submitted the following REPORT together with DISSENTING VIEWS [To accompany H.R. 7980] [Including cost estimate of the Congressional Budget Office] The Committee on Ways and Means, to whom was referred the bill (H.R. 7980) to amend the Internal Revenue Code of 1986 to ex- clude vehicles the batteries of which contain materials sourced from prohibited foreign entities from the clean vehicle credit, hav- ing considered the same, reports favorably thereon with an amend- ment and recommends that the bill as amended do pass. CONTENTS Page I. SUMMARY AND BACKGROUND ............................................................... 3 A. Purpose and Sum m ary ..................................................................... 3 B. Background and Need for Legislation .................... 3 C. Legislative H istory ........................................................................... . 4 B ackground ......................................................................................... 4 Com m ittee H earings .......................................................................... 4 Com m ittee A ction .............................................................................. . 4 D . Designated H earing .......................................................................... 4 II. EXPLANATION OF THE BILL .................................................................. 4 A. Exclusion from Clean Vehicle Credit of Vehicles Containing Materials Sourced from Prohibited Foreign Entities (sec. 2 of the bill and sec. 30D of the Code) ................................................. 4 B. Explanation of Provision .................................................................. 8 C . E ffective D ate ................................................................................... . 9 III. VOTES OF THE COM M ITTEE ................................................................... 9 IV. BUDGET EFFECTS OF THE BILL ............................................................ 9 49-006