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 Chair Tom Carper (D-Del.) and Sens. Richard Burr (R-N.C.), Catherine Cortez Masto (D-Nev.) and Debbie Stabenow (D-Mich.).
https://www.msn.com/en-us/news/politics/senators-introduce-bipartisan-bill-to-expand-electric-vehicle-charging-tax-credit/ar-BB1eXFET?li=BBnb7Kz