Senators introduce bipartisan bill to expand electric vehicle charging tax credit
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.
The measure is co-sponsored by Senate Environment and Public Works Committee Chairman Tom Carper (D-Del.) and Sens. Richard Burr (R-N.C.), Catherine Cortez Masto (D-Nev.) and Debbie Stabenow (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 Buttigieg called for improved electric vehicle infrastructures at his confirmation hearing earlier this year.