Toyota, Honda Oppose U.S. House Electric Vehicle Tax Plan, Say It Is 'Unfair'

Toyota, Honda Oppose U.S. House Electric Vehicle Tax Plan, Say It Is 'Unfair'
Toyota Motor Corp (NYSE:TM) and Honda Motor Co (OTC:HNDAF) have vehemently opposed the proposal to give union-made electric vehicles in the U.S. an additional $4,500 tax incentive.

What Happened: The bill, proposed by the Democrats in the U.S. House of Representatives, is set to be voted on Tuesday by the Democratic-led House Ways and Means Committee.

The bill, which is part of the $3.5 trillion spending proposal, would benefit Detroit's Big Three automakers, which have union-represented auto plants, according to Reuters.

Japan's largest automaker Toyota says the proposed plan discriminates "against American autoworkers based on their choice not to unionize." Toyota added that it will also "fight to focus taxpayer dollars on making all electrified vehicles accessible for American consumers who can't afford high-priced cars and trucks."

Honda has said that the bill was unfair and that it "discriminates among EVs made by hard-working American autoworkers based simply on whether they belong to a union." The company noted that Honda has plants in Alabama, Indiana, and Ohio that build EVs, and said those workers "deserve fair and equal treatment by Congress."
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