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The bill dubbed the “Driving America Forward Act” would grant each automaker a $7,000 tax credit for an additional 400,000 vehicles on top of the existing 200,000 vehicles eligible for $7,500 tax credits. It would shorten the phase-out schedule to nine months. The bill would also extend the hydrogen fuel cell credit through 2028. The bill is estimated to cost $11.4 billion, with all but $91 million of that tally to extend the EV tax credit. “We have a cap that’s got to go up,” Stabenow told a group of automakers at a dinner last week. “I want to get this done as soon as possible.”.
The proposal has strong backing from automakers, environmental custom cufflinks wedding groups and others, but will face opposition, Last month, the White House proposed immediately eliminating the $7,500 tax credit, a move it said would save the U.S, government $2.5 billion over a decade, Senator John Barrasso, a Republican who chairs the Environment and Public Works Committee, in February proposed legislation to end the credit and impose a highway user fee on EVs to pay for road repairs, The bill is backed by major automakers including GM, Tesla, Toyota Motor Corp, Ford Motor Co, Fiat Chrysler Automobiles NV, Honda Motor Co, BMW AG, Nissan Motor Co, Volkswagen AG and utilities..
GM President Mark Reuss said in a statement “the EV tax credit provides customers with a proven incentive as we work to establish the U.S. as a leader in electrification.”. Michael Brune, executive director of the Sierra Club, said “as we build and grow the clean energy economy, we must continue to invest in tackling the sector that generates the most pollution: transportation.”. Both GM and Tesla have been lobbying Congress for more than a year to extend or expand the EV tax credit.
FRANKFURT (Reuters) - One of Bayer’s largest shareholders tore into the company’s management on Wednesday for underestimating the legal risks of its takeover of Monsanto, setting the stage for a fiery annual general custom cufflinks wedding meeting after a 30 percent plunge in the shares, Bayer has seen about 30 billion euros ($34 billion) wiped off its market value since August, when a U.S, jury found Bayer liable because Monsanto had not warned of weedkiller Roundup’s alleged cancer risks, It suffered a similar courtroom defeat last month..
“It’s quite drastic when a takeover triggers such value destruction and reputational damage so quickly. There can be no talk of a successful takeover any more,” Ingo Speich, the head of sustainability and corporate governance at Deka Investment, told Reuters. He will be among the shareholders to speak at the April 26 annual general meeting (AGM). “What’s startling is that things have effectively moved beyond management’s control because we’re now at a point where the decisions over future development are made in court rooms,” he said, adding Bayer had clearly underestimated the risks.
With a holding of about 1 percent, Deka says it is Bayer’s 10th-largest shareholder overall, and the second-largest German one after DWS, Major shareholder advisory firms Institutional Shareholder Services (ISS) and Glass Lewis last week recommended investors not to give the executive custom cufflinks wedding board their seal of approval at the AGM, Glass Lewis also advised against a vote of approval for the non-executive supervisory board, A shareholder vote to ratify boards’ actions features prominently at every German AGM, Though largely symbolic, as it has no bearing on management liability, it is seen as a key gauge of shareholder sentiment..
Among shareholders that have vowed to deny top Bayer executives their vote of confidence is the former head of DWS, Christian Strenger. Deka’s Speich declined to disclose how Deka would vote. Company filings showed this week that Bayer’s supervisory board sought law firm Linklaters’ expert opinion for reassurance that the management board had complied with its duties when acquiring Monsanto for $63 billion last year. The supervisory board in Germany’s two-tier corporate board system has to sign off on larger transactions. Bayer’s non-executive Chairman Werner Wenning was a driving force of the Monsanto deal, according to sources familiar with the matter.
Bayer is appealing, or has vowed to appeal, the two jury verdicts, but more than 11,000 plaintiffs are seeking damages, The U.S, Environmental Protection Agency, the European Chemicals Agency and custom cufflinks wedding other regulators across the globe have found that glyphosate, the active ingredient in Roundup, is not likely carcinogenic to humans, However, the World Health Organization’s cancer arm in 2015 reached a different conclusion, classifying glyphosate as “probably carcinogenic to humans.”..