REVOKE Act of 2023

This bill restricts tax credits for electric vehicles (EVs) and related components by barring eligibility for vehicles or parts manufactured or assembled by companies tied to certain foreign entities deemed "of concern." It directly affects EV buyers and manufacturers seeking federal tax credits under Sections 30D and 48C of the tax code. Key provisions amend these sections to exclude credits for: (1) EV batteries made by entities controlled by foreign "concerns," (2) domestic companies using foreign technology via licensing, and (3) projects using technology from foreign-owned entities. The law applies to vehicles sold or credits certified after enactment.