Gas tax increases, a carbon tax and a low carbon fuels tax part of legislature’s transportation tax proposals


It remains unclear whether either plan will make it through the current legislative session

Chris Brown
John Ley
ClarkCountyToday.com

CLARK COUNTY — Dire predictions of a post-pandemic state budget collapse for Washington have largely not come to pass, thanks to a quicker-than-expected economic recovery, and billions of dollars in federal stimulus money.

Washington received nearly $3 billion as part of the CARES Act stimulus package approved by Congress in March 2020, and is expected to receive well over twice that amount from the $2.2 trillion American Rescue Plan.

Beyond that, the most recent state revenue forecast was up $1.3 billion

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Ford and VW’s Electric-Vehicle Race Gets Greenlit as Korean Battery Battle Ends

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Volkswagen’s ID.4 is set to begin production in the U.S. next year.


Ronny Hartmann / AFP via Getty Images


SK Innovation

and LG Energy, the energy arms of two of South Korea’s largest companies, have ended a dispute over battery technology.

The pair has reached a multibillion-dollar settlement that could have threatened a supply chain vital for

Ford

and

Volkswagen

to produce electric vehicles. The agreement also secures thousands of manufacturing jobs in Georgia and boosts domestic battery production, delivering political wins to President
Joe Biden.

Shares in

SK Innovation

climbed 12% in Monday trading while

LG Chem

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Biden’s chip dreams face reality check of supply chain complexity

By Hyunjoo Jin and Stephen Nellis

SAN FRANCISCO (Reuters) – To understand President Joe Biden’s challenge in taming a semiconductor shortage bedeviling automakers and other industries, consider a chip supplied by a U.S. firm for Hyundai Motor Co’s new electric vehicle, the IONIQ 5.

Production of the chip, a camera image sensor designed by On Semiconductor, begins at a factory in Italy, where raw silicon wafers are imprinted with complex circuitry.

The wafers are then sent first to Taiwan for packaging and testing, then to Singapore for storage, then on to China for assembly into a camera unit, and finally

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Car-making nightmare could be getting a fix, thanks to Intel

CEO Pat Gelsinger told Reuters on Monday that Intel is in talks with companies that design chips for carmakers about manufacturing those chips in its factories. Intel (INTC) could be producing the chips within six to nine months, he said.
That increased supply would be a big help to automakers that have faced production delays, factory shutdowns and limited inventories because of the short supply of computer chips. Gelsinger said Intel will seek to provide rapid assistance to car companies suffering from the shortage, including Ford Motor Co (F). and General Motors (GM)
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News Updates: Congress to Resume Discussing Biden’s Infrastructure Plan


Samuel Corum/Getty Images

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Here’s what you need to know to navigate the markets today.

• Congress is back in session this week and will resume discussions over President Joe Biden’s nearly $2.3 trillion infrastructure proposal. Biden is meeting with members from both parties in an effort to win bipartisan support, including Republicans who have voiced objections to the scope of Biden’s plan and his proposal to pay for it by raising the corporate tax rate to 28% from the current 21%. Sen. Roger Wicker (R., Miss.) said on Sunday’s ABC’s “This Week” that if Biden is willing to

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GM commits to deliver advanced technologies

General Motors has accelerated its electrification process in China with the commitment to introduce more advanced technologies to the Chinese market, in pursuit of a clean and intelligent future.

According to Julian Blissett, GM’s executive vice-president and GM China president, the company will achieve carbon neutrality across the world by 2040. It plans to achieve zero emissions of all new light vehicles by 2035.

To achieve that, GM plans to invest $27 billion in the electric vehicle and autonomous driving sectors by 2025.

Blissett said in an interview: “We believe in the future of pure electric and GM is always

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