118th Congress Gets Underway
After 15 ballots, the U.S. House of Representatives elected its new Speaker of the House, Kevin McCarthy (R-CA) late last Friday evening and this week began organizing key committees. On Tuesday, Representative Jason Smith (R-MO) was selected as the new Chairman of the House Ways & Means Committee, which has oversight over trade policy. The committee also named its newest Republican members for the 118th Congress: Representatives Mike Carey (OH-15), Randy Feenstra (IA-04), Michelle Fischbach (MN-07), Brian Fitzpatrick (PA-01), Nicole Malliotakis (NY-11), Blake Moore (UT-01), Michelle Steel (CA-45), Greg Steube (FL-17), Claudia Tenney (NY-24) and Beth Van Duyne (TX-24). Democrats have yet to announce their committee members, however Representative Richard Neal (D-MA) is expected to continue in his leadership role as Ranking Member. The Senate met on Tuesday, January 3rd and was sworn in, but has since recessed until the week of January 23rd.
Biden Administration
This week the Biden Administration unveiled what it called a roadmap for the decarbonization of the transportation sector. The U.S. National Blueprint for Transportation Decarbonization, which was developed by the Environmental Protection Agency (EPA) and Departments of Energy, Transportation, and Housing and Urban Development, is intended to support President Joe Biden’s climate goals.
Clean Vehicle Tax Credit
The IRS has started compiling a list of the clean vehicles that *may* qualify for the credit, subject to new MSRP and consumer income caps. The CVTC, authorized by the Inflation Reduction Act, provides a credit of up to $7,500 for electric and fuel cell vehicles with final assembly in North America, but with stringent new, and annually increasing, battery requirements which, depending upon implementation, could exclude many EVs currently sold in the U.S. Late last year, the IRS said it would delay the release of guidance on new battery requirements until March.
Get to Know the New Congress – Sign Up for a Dealer Visit!
Quote of the Week
“There’s a whole new Congress. We have a Dealer Visit Program. It’s the perfect time in the early days to get these Members to come to a dealership and walk around and see it, see the technology, see what’s going on with the technicians. There’s a real educational process that can happen in the early days [of a new Congress].
- Cody Lusk, President & CEO, AIADA (CBT News)
ICYMI
In case you missed it, check out AIADA President & CEO Cody Lusk on CBT News discussing the issues he sees facing the auto retail industry in 2023 (paywall):
Friday Feel Good
Here is just one recent example of how dealers are doing good in their communities:
Northtown Automotive teamed up with the Buffalo Bills for a Holiday Toy Drive to support the Buffalo City Mission, including presenting a $10,000 donation.
We want to hear more about how you are supporting your local community – tweet us at @AIADA_News and use the hashtag #DealersDoGood.
