Virginia has the opportunity to help every resident economically by supporting the extension of the federal electric vehicle (EV) tax credit. The commonwealth can decrease harmful auto emissions and improve quality of life by supporting widespread adoption of EVs.
Electric vehicle incentives don’t solely benefit consumers who opt to drive EVs. Increasing accessibility to EVs supports communities across the board.
Most of us have a positive view of electric vehicles and support the federal EV tax credit. A recent poll found that 63% of Americans believe the tax credit is crucial in supporting EV adoption in the U.S. According to the poll, 74% of respondents said the credit would have some bearing on whether they purchased an EV. For many families, the tax credit is a helpful nudge toward making a purchase that’s not only better for clean air but also cheaper to operate, helping them save money on day-to-day expenses.
When deciding to purchase a vehicle, a majority of consumers opt to buy used cars. The federal EV tax credit has bolstered an affordable market for both new and used electric vehicles. According to Kelly Blue Book, the base model 2016 Nissan LEAF sells for between $10,000 and $13,000. Similarly, Ford’s electric model of the 2017 Focus tops out at about $13,000. Affordable EVs especially help low-income drivers who spend a larger portion of their income on transportation. Electric vehicles offer a cheaper sticker price and lower costs for maintenance and fuel. Families driving EVs save $770 on average annually on fuel.
Continuing demand for electric vehicles helps support manufacturing plants and car dealerships that employ millions of Americans. The clean vehicle industry alone sustains more than 5,400 Virginia jobs, and Virginia remains one of the top 10 U.S. states for clean economy jobs, with more than 95,000 Virginians employed in this flourishing industry. Many EVs are made by American workers. Nissan’s LEAF is made in Tennessee. Chevrolet plans to build its upcoming electric crossover in Michigan. Experts say the EV industry could add 100,000 jobs each year through 2040, and Virginia is poised to continue benefiting from this trend.
Electric vehicle adoption also keeps our economy competitive, both in Virginia and nationally. Projections show China will control nearly 48% of the global EV market by 2025. The U.S. can safeguard and grow high-quality auto industry jobs and claim a larger piece of the global EV market by encouraging homegrown American innovation.
The same local economies that are supported in part by electric vehicle manufacturing are being drained by the oil and gas industry. Fossil fuel subsidies and tax breaks cost taxpayers $4.7 billion annually while encouraging consumers to choose products that pollute our communities.
Fossil fuel companies continue to turn profits, while low-income communities, people of color and other vulnerable populations in our communities are saddled with the worst impacts of the pollution that those products produce. In Virginia alone, more than 700,000 children and seniors with asthma are suffering the consequences every day. Electric vehicles eliminate the tailpipe pollution plaguing disadvantaged communities. As the commonwealth transitions to cleaner cars, buses, and trucks, we will all breathe cleaner air — especially low-income Virginians.
Electric vehicles curb climate emissions. An EV in Virginia produces 60% fewer greenhouse gas emissions today than a new gas-powered car you can buy on the lot today. While a gas-powered car will continue to produce the same amount of climate-altering emissions throughout its lifetime, an EV will get cleaner and cleaner as Virginia gets more of its energy from renewable sources.
Right now, we have the opportunity to help Virginia families by supporting our members of Congress in standing up for the federal EV tax credit. In doing so, we can take a stand for Virginia jobs, consumer savings, cleaner air for all our kids to breathe and a healthier climate.
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(16) comments
This article promotes EV Tax credits. No one I know of likes to pay taxes. Tax credit are intended as an incentive to promote change. The City of Richmond has extensively used historic tax credits to promote the redevelopment of Scott's Addition and Manchester. The downside to tax credits is that it reduces funding for services provided by the locality, things like schools, roads, and public safety. Tax credits benefit the few over the many, a good portion of which have limited financial means. This doesn't seen fair that the poor to have to subsidize those with deeper financial means and this is the real no brainer.
David, the financial savings concomitant to increasing health benefits that will derive from cutting down on pollution will easily pay for whatever tax revenue we will lose (if any). And don't forget, the costs of EVs are steadily coming down so that even people of modest means can afford some. The savings on gasoline alone will be huge.
Your nonsense might be true if tax credits were charity. They are not. They are redevelopment investments to, in this case, bring new investment and population to ultimately grow the tax base and turn areas in decline into profitable liveable areas for citizens.
Don’t worry about the poor. If taxes are levied justly the richest pay the most for the wonderful city they get to live and do business in with all the infrastructure and access they need to make their large profits.
Drake, I never would have thought you were the type to write "Don’t worry about the poor". The Median household income in Richmond, VA is $42,356 and the average size of a median household is somewhere between 2 and 3. If you make less than the median I would think you will be hard pressed to afford the median retail price for an EV, The average cost of an EV increased 2% last year to $36,600. Let's compare that to the Kia Rio which has a MSRP $16,675. Assuming the estimated annual saving of $632 an EV over an ICE (from energysage.com) it will take 31 years and 6 months to break even. Remember Drake, don't underestimate the poor, they are not stupid.
I never would have thought you could have SUCH poor reading comprehension that you would take my statement about not worrying about the poor SO out of context.
In the context of the discussion and what I went on to say my statement was not to worry about the poor having to pay more tax since the rich are their to shoulder their fare share of the burden. I guess you were just SO happy to thing you had a "gotcha" you missed my statement " "If taxes are levied justly the richest pay the most for the wonderful city they get to live in with all the infrastructure and access they need to make their large profits.
Nice try. But lots can be done for tax relief for the poor. And the best thing for them is all the good jobs and economic growth the Democrats bring to VA. At least 25,000 jobs with Amazon alone!
I know the poor are not stupid. I have my doubts about you, though.
Rump’s use of the state against his political opponents goes really deep. Kind of a “deep state”. “ A lawyer for an indicted associate of Rudy Giuliani tells CNN that his client is willing to tell Congress about meetings the top Republican on the House Intelligence Committee had in Vienna last year with a former Ukrainian prosecutor to discuss digging up dirt on Joe Biden.”
Any time politicians have to entice citizens to buy a product, with money as the tool of bribery for a cause, the end result must not be as appealing to folks as they think.
Real Global Warming nuts should get shed of their gas guzzlers, retrofit their home to fit the cause they believe in, and on their own dime, not expect someone else to pay for it with a Federal Tax Credit.
A few years back I took advantage of a $15,000 Federal Tax Credit (gift) from the taxpayers by installing a geothermal system for heating and cooling my new house …… It is great …. but, is everyone else jumping on the bandwagon .... No. …… Thanks taxpayer, every dime I save came from you, and geothermal isn’t going blockbuster yet. Hallelujah, and period.
Spacy Peter only wants HIS free stuff. He begrudges it to anyone else. Fortunately the New Democratic GA of VA will force compliance with the Paris Accords and be part of the solution. Annnd touchè!
Elly Boehmer is on the mark with her op-ed. And she can breathe a little easier as EVs are the wave of the future. If you want to see where we’ll be in five or ten or twenty years, keep your eye on the research programs run by automotive companies. Right now they all seem to point in the direction of electric vehicles. American and foreign car makers are slowly spending much more money on research and production of these cars. Some major car makers are combining their research facilities and personnel to get there faster. Good for them, good for us.
Norbert, When talking about EVs we should consider the source of electricity. Was it generated by coal, natural gas, hydro, nuclear, solar or wind? EVs alone will only move the source of pollution.
The way we are going now, more and more power is generated by renewables. That makes EVs a win-win proposition. In due time many homes will feature battery storage and it will be a trifecta. The sun charges the storage battery which feeds the car which is driven without producing the pollution we experience today. What is not to like?
EV's cut car polution WAY down without an equal amount of carbon emissions from electricity generation. EV's along with power company trends towards more renewables results in much larger reductions in carbon pollution.
"Fossil fuel companies continue to turn profits, while low-income communities, people of color and other vulnerable populations in our communities are saddled with the worst impacts of the pollution that those products produce." The lowest-income communities in Virginia are in Southwestern Virginia, an area which probably has the cleanest air in the state. Exactly how does air pollution center itself on low-income communities and those with people of color?
If we evolve to everyone driving an EV who will pay for building and repairing the roads with little fuel tax collected? Are we going to have subsidized charging stations?
Larry, you make a good point. Auto owners should either pay the gas tax or a tax based on yearly mileage. I use the roads and bridges, I ought to help pay for them.
Ken, I wouldn’t mind that, but it is a slippery slope. (My wife and I drove a combined 10,000 miles last year since we use airlines for longer trips. We would pay little or get a refund). How do we determine usage of anything that is not metered? Education taxes for those who no longer have kids. Should bicyclists get a refund on road taxes. What if I don’t use this or that service supported by taxes?
I suspect it is better and easier to tax everybody, usage or not.
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