WASHINGTON DC – Left out of the House Republican draft tax legislation last week was the Electric Drive Vehicle Credit and Michigan Senator Gary Peters wants to get it restored.
On Thursday, Peters (D-MI) sent a letter to U.S. Senator Orrin Hatch (R-UT), Chairman of the Senate Finance Committee, urging the committee to preserve the EV Credit in the forthcoming Senate tax reform proposal.
The EV Credit, which drives innovation and economic growth for the American automotive industry, was omitted in the House Republicans’ draft tax legislation released last week. U.S. Senator Debbie Stabenow (D-MI), a senior member of the Senate Finance Committee, will also work to maintain this essential tax credit when the committee considers the Senate bill.
“The American middle class was shaped in the 20th century by the mass production of combustion engine automobiles,” wrote Peters. “A new generation of jobs and families will be supported by electric vehicles. Eliminating important economic incentives for electric vehicles would be a step in the wrong direction.”
The EV Credit helps incentivize production and consumer adoption of electric vehicles. Electric drivetrains are the preferred power source for self-driving vehicles, and the EV Credit will be an important economic incentive as manufacturers continue developing self-driving vehicle models. Preserving the EV Credit will ensure that the United States remains at the forefront of vehicle innovation that creates new jobs and keeps American globally competitive.
The text of the letter is below and available here:
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