Biden administration proposes wide eligibility for EV charger tax credit
The Biden administration has proposed a rule maximizing the number of electric vehicle (EV) chargers that can qualify for tax credits.
Prior to the proposed rule, it was unclear whether the tax credits would apply to an entire EV charging station or each individual port that’s part of the charger.
The proposal applies on a per-port basis, meaning that companies can claim it multiple times for a charging station that can charge multiple cars at once.
The tax credit is 30 percent off the cost of installing the charger, up to $100,000, for companies. Individuals can also claim the credit for 30 percent of their costs, up to $1000 per port.
The credit only applies in areas that are either low-income or are not urban.
The tax credits come from the Inflation Reduction Act, the sweeping climate tax and healthcare law President Biden signed in 2022.
In addition, the proposal upholds a broad definition of what is considered non-urban that the administration put forward earlier this year. Under that definition, credits are available to chargers in places where about two-thirds of Americans live.
“In order to help more Americans go electric, we need to make sure they can charge their EVs where they live, work, and shop – from inner-city neighborhoods to rural areas,” said White House adviser John Podesta in a written statement.
“The Inflation Reduction Act is expanding charging access by saving families and businesses up to 30 percent off the cost of installing EV chargers,” he added.
Sen. Joe Manchin (I-W.Va.) a centrist who was one of the law’s main architects, previously criticized the more flexible definition of non-urban areas, saying it “spits in the face of rural America.”
However, a group of 15 Democrats last year urged the Biden administration to adopt a flexible guidance that maximizes eligibility for more chargers.
The current lack of publicly available chargers is a major hurdle toward the widespread adoption of electric vehicles. Many Americans worry they won’t be able to charge their cars while on lengthy trips.
The number of publicly available chargers has doubled since Biden took office, his administration said last month. However, the number of public chargers, which was 192,000, is still short of the 500,000 goal set by the Biden administration for 2030.
Date: | |
Tag: | Joe Biden |
-
CNBC - Business
GOP House Speaker Johnson backs keeping some of Biden's clean energy tax credits
In an exclusive interview with CNBC, Johnson says he will use "a scalpel and not a sledgehammer" in deciding which IRA tax credits to try to roll back.Yesterday - Joe Biden -
The Hill - Politics
Biden's climate law got zero GOP votes. Some Republicans think its energy tax credits are worth saving
As President Biden’s signature climate law spurs energy investments in Republican-led districts, many Republican members are getting on board with keeping at least some of its tax credits — ...Yesterday - Republican Party -
The Hill - Politics
Biden administration to convene AI safety summit in California
The Biden administration will host a global safety summit on artificial intelligence in November to discuss the quickly developing technology and efforts to mitigate its risks. Secretary of ...21 hours ago - Joe Biden -
The New York Times - Business
Biden Administration Extends Review Period for Nippon Takeover of U.S. Steel
U.S. Steel’s chief, David Burritt, expressed confidence on Tuesday that the sale of the American manufacturer to a Japanese owner would close “on its merits” despite bipartisan backlash.Yesterday - Joe Biden -
The New York Times - Business
After Fed Cuts Rates, Biden Will Claim Credit for Economy’s Strength
The president’s speech on Thursday won’t be a “victory lap,” officials said, but it will celebrate falling inflation and borrowing costs along with solid growth.3 hours ago - Joe Biden -
CNBC - Business
Republican House speaker floats deregulation and tax cuts — not tariffs — to pay for Trump proposals
Republican Speaker Mike Johnson is hours away from a House vote on his six-month funding bill, less than two weeks away from a partial government shutdown.17 hours ago - Donald Trump -
ABC News - Tech
Biden administration to host international AI safety meeting in San Francisco after election
Government scientists and artificial intelligence experts from at least nine countries and the European Union will meet in San Francisco after the U.S. elections to coordinate on safely developing ...Yesterday - Joe Biden -
Inc. - Business
Biden Administration Burns Through Climate Funds as Trump Threatens to Slash Unspent Money
The White House said the administration is allocating out the funds "as quickly and as equitably as we can."14 hours ago - Joe Biden
More from The Hill
-
The Hill - Politics
England’s strained health care system should ring alarms in the US
We aren’t there yet in the U.S., but there are several warning signs that we are heading in the wrong direction.28 minutes ago -
The Hill - Politics
Congress approaches fiscal new year with plenty of noisemakers
House Speaker Mike Johnson was forced to pull the six-month stopgap continuing appropriations bill due to lack of votes, raising questions about a possible putsch by Republicans to remove him from ...58 minutes ago -
The Hill - Politics
UN spokesman: 'We need diplomacy' after Lebanon explosions
Walkie-talkies and solar equipment exploded in Beirut and other parts of Lebanon on Wednesday in an apparent second wave of attacks.1 hour ago - United Nations -
The Hill - Politics
Paging Iran...
Israel has launched a cunning attack on Hezbollah, targeting 4,000 operatives with pre-planted explosives, and is escalating its response to Iran's seven deadly sins, including its nuclear weapons ...1 hour ago - Iran -
The Hill - Politics
Morning Report — How will Congress avert a shutdown now?
Speaker Mike Johnson’s (R-La.) funding gamble didn’t pay off. A diverse group of House Republicans on Wednesday torpedoed Johnson’s proposal for a six-month government funding bill, dealing an ...2 hours ago