The American Jobs Plan
On March 31, 2021, the Biden administration released the
American Jobs Plan (the "Infrastructure Plan"), which is
a proposal that, if ultimately enacted, aims to modernize outdated
infrastructure, create additional jobs and increase the United
States' global competitiveness. While much of the
Infrastructure Plan describes areas in need of capital allocation,
it contains numerous tax-related references, many of which could
impact the energy industry.
Encouraging investment in electric
vehicles ("EVs")
The Infrastructure Plan includes provisions to spur domestic
supply chains and the production of raw materials to support
American workers making batteries and EVs, and would provide
consumers point-of-sale rebates and tax incentives to buy