Manchin-Schumer bill has key weakness

The proposed legislative compromise between Democratic Sens. Joe Manchin (WV) and Chuck Schumer (NY) would either boost the share of electric vehicles on the road or undermine such efforts completely — depending on whom you ask.

The bill, which would expand a $7,500 tax credit for U.S. consumers who purchase electric vehicles, is aimed at incentivizing U.S. companies to build out the supply chains for critical mineral components used to make the cars — a longtime goal of President Joe Biden. But many industry officials and lawmakers have expressed concern that those supply chain buildups could take years, undercutting the bill’s prospects to reduce emissions.