by Michael Lee
Inflation Reduction Act includes tax credits for purchasing electric vehicles manufactured in North America
Canadian Prime Minister Justin Trudeau took to social media to celebrate President Biden signing the Inflation Reduction Act, boasting that the American legislation will be a win for Canadians.
"It’s official: @POTUS signed legislation that will include Canada in a new tax incentive for electric vehicles purchased in the US," Trudeau said Tuesday on Twitter. "This is good news for Canadians, for our green economy, and for our growing EV manufacturing sector."
Biden signed the Inflation Reduction Act on Tuesday, touting it as a big win for Americans.
"With this law, the American people won, and the special interests lost," Biden said. "This administration began amid a dark time in America… a once-in-a-century pandemic, devastating joblessness, clear and present threats to democracy and the rule of law, doubts about America's future itself — and yet we've not wavered, we've not flinched, and we've not given in."
Canadian Prime Minister Justin Trudeau (David Kawai/Bloomberg)
Canadian officials celebrated the new law as a windfall for Canada and its green energy manufacturing sector, which will benefit from Americans receiving tax credits for purchasing electric vehicles made in North America, a fact not lost on critics of the legislation.
"Using your taxes to boost the Canadian automobile manufacturing sector is not going to reduce inflation in the United States, but it is quite a gift to Canada, the same country that sued the U.S. in the WTO to get us to remove country of origin labels from our beef and pork," Rep. Thomas Massie, R-Ky., said Wednesday in response to Trudeau.
Biden signed the legislation after it passed both chambers of Congress on party lines, and Vice President Kamala Harris had to cast the tie-breaking vote in 51-50 Senate vote.
President Biden speaks during a bill signing ceremony for the Inflation Reduction Act at the White House on Tuesday, Aug. 16, 2022. (Reuters/Leah Millis)
Biden took aim at Republicans for their opposition to the legislation Tuesday, arguing that they took the side of special interests.
"Democrats sided with the American people, and every single Republican in the Congress sided with the special interests in this — every single one," Biden said.
Michael Lee is a writer at Fox News. Follow him on Twitter @UAMichaelLee
Source: https://www.foxnews.com/world/trudeau-celebrates-canadian-windfall-biden-signing-inflation-reduction-act
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