The extension of the electric vehicle tax credit in the energy and health care compromise reached by Senate Democrats is good news for the auto industry as it undertakes a profound transformation in how its products are made, powered and used.
But the plan includes a complicated set of limitations designed to optimize the outcomes. Let's hope they don't smother the chance to steer the industry's change.
I have little doubt that the intentions are good. The limits aim to address a major source of global warming without giving buckets of taxpayer dollars to rich folks who don't need it and to Chinese mining and tech companies. But make no mistake: It's going to be complicated, it could be costly, and it's going to reshape the EV industry as we know it today.