Summary
- White House launching an assault on cleantech
- 15 Republican Senators sponsored a bill to eliminate US EV tax credit
- Senator Deb Fischer introduced a bill for a $1,000 extra tax on EVs
- Alternative tax proposals being ignored
- US EV industry facing potential loss of tax credits and additional taxes
Article
The White House is currently targeting cleantech initiatives, which is ironic considering the shadow president, Elon Musk, is the wealthiest person in the world mostly due to his cleantech company. There is concern that Musk is not fighting for cleantech as a whole and may allow Republicans to impose a $1,000 tax on electric vehicles. This comes as 15 Republican senators have co-sponsored a bill to kill the US EV tax credit, which includes subsidies for electric vehicles such as the $7,500 tax credit, the Commercial Clean Vehicle Credit (45W), and the Used Clean Vehicle Credit (25E).
The potential elimination of these EV subsidies is concerning for the US EV industry, especially as Senator Deb Fischer has introduced a bill to add an extra $1,000 tax on EVs at the point of sale. This tax is supposed to make up for missed gas tax revenue, but overlooks the fact that EVs drive fewer miles on average than gasoline or diesel vehicles. Implementing a tax per mile driven weighted by the weight of the vehicle has been proposed as a more sensible solution. It is worrying to see these developments unfold, especially as the US EV industry is already struggling to compete globally.
The prospect of losing EV tax credits and facing additional taxes on EVs is a setback for the cleantech revolution. There are ongoing investigations and enforcement actions into Musk’s companies by federal agencies, highlighting the complex ties between cleantech innovators and government policies. Despite these challenges, it is crucial to advocate for sustainable solutions and push back against detrimental policies that hinder progress in the cleantech sector.
It is essential for individuals to stay informed and engage with policymakers to voice concerns about the potential elimination of EV subsidies and the imposition of an additional tax on electric vehicles. Supporting independent cleantech coverage and contributing to the acceleration of the cleantech revolution through financial backing can help counteract negative developments in the industry. By staying informed, advocating for sustainable policies, and supporting cleantech initiatives, individuals can play a role in shaping a more sustainable future.
Despite the challenges facing the cleantech industry, there is still hope for progress and innovation. By supporting independent media outlets like CleanTechnica and engaging with policymakers to promote sustainable policies, individuals can contribute to the advancement of cleantech solutions. It is important to stay informed, advocate for positive change, and work towards a greener future for generations to come. The current political climate may present obstacles, but with collective effort and dedication, the cleantech revolution can continue to thrive.
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