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Senators introduce bipartisan bill to expand electric vehicle charging tax credit

Senators introduce bipartisan bill to expand electric vehicle charging tax credit
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A bipartisan group of senators has introduced legislation that would expand the existing tax credit for electric vehicle charging infrastructure.

The bill would broaden the existing Alternative Fuel Vehicle Refueling Property Investment Tax Credit (30C), which the sponsors wrote “isn’t adequate for encouraging greater private investments in clean vehicle refueling infrastructure like electric charging stations and hydrogen refueling stations.”

The bill, called the Securing America’s Clean Fuels Infrastructure Act, would expand the 30C tax credit to clearly establish that it can be applied to individual units such as chargers rather than per recharging location. It would also broaden the 30C ITC maximum for business activists from $30,000 to $200,000 per item and lengthen it for a further eight years. Under this expansion, it would apply to any property that enters service by the end of 2029.

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The measure is co-sponsored by Senate Environment and Public Works Committee Chairman Tom CarperThomas (Tom) Richard CarperOVERNIGHT ENERGY: Senate confirms Mallory to lead White House environment council | US emissions dropped 1.7 percent in 2019 | Interior further delays Trump rule that would make drillers pay less to feds Key Democrat says traveler fees should fund infrastructure projects Senate confirms Biden's pick to lead White House environmental council MORE (D-Del.) and Sens. Richard BurrRichard Mauze BurrA proposal to tackle congressional inside trading: Invest in the US Former Gov. Pat McCrory enters GOP Senate race in North Carolina Lara Trump leads GOP field in North Carolina Senate race, poll shows MORE (R-N.C.), Catherine Cortez MastoCatherine Marie Cortez MastoTo encourage innovation, Congress should pass two bills protecting important R&D tax provision RNC rolls out ad campaign hitting Democrats over election reform Senators introduce bipartisan bill to expand electric vehicle charging tax credit MORE (D-Nev.) and Debbie StabenowDeborah (Debbie) Ann StabenowSerious about climate change? Get serious about agriculture Five things to watch on Biden infrastructure plan Senators introduce bipartisan bill to expand electric vehicle charging tax credit MORE (D-Mich.).

“For our automakers to be globally competitive and to meet our climate goals, we need millions more electric and fuel cell vehicles on our roads in the next decade. By bringing down investment costs, our bill will ensure our nation starts building the necessary charging and clean vehicle refueling stations today,” Carper said in a statement.

“Many of our nation’s largest automakers are already pledging to electrify and clean up their fleets, but Americans must have far greater access in their communities to electric charging and fuel cell stations. We can’t have clean vehicles without clean vehicle fueling infrastructure—we must invest in both.”

The Biden administration has set a goal of reaching net-zero greenhouse gas emissions by 2050 and 500,000 electric charging stations nationwide by 2030. Transportation Secretary Pete ButtigiegPete ButtigiegBiden looks to bolster long-term research and development White House says gas tax won't be part of infrastructure bill The Hill's 12:30 Report: Biden meets with bipartisan lawmakers for infrastructure negotiations MORE called for improved electric vehicle infrastructures at his confirmation hearing earlier this year.