Retaining Federal EV Tax Credit Vital for U.S. Energy Security and Beating China to EV Market Dominance
In response to the White House announcing its intention to eliminate the federal electric vehicle (EV) tax credit in its proposed budget, in order to save the U.S. government $2.5 billion over 10 years, Electrification Coalition (EC) President and CEO Robbie Diamond issued the following statement: “Eliminating the federal EV tax credit not only exacerbates the economic and national security dangers posed by our oil dependence, but also gives China a vital advantage in the global EV race. Electricity is a bona fide American-made fuel, and switching to electricity will help the Trump administration hit its energy dominance goals by cutting domestic oil consumption and maximizing our petroleum exports.”