Amazing but True: Charging Infrastructure Tax Credit Set to Expire this Month (Action Needed)
I am not a big fan of subsidies, which tend to obscure market realities and generally benefit the incumbents (from agriculture to manufacturing) instead of leaner, more efficient newcomers.Targeted, time-limited consumer tax credits are a different animal however. When well designed, they can be a decisive force helping new industries cross the chasm faster. The tax credit available for EVs is a good example. Unfortunately, the other EV tax credit (the one that helps individuals and businesses purchasing charging infrastructure) was not that well designed, and because it comes from a different pot of money, it is set to expire by the end of this month. Ah, the irony, right when the first serious EVs in a generation are finally going to appear on the road, one of the main sweeteners for the consumer (especially if they are not too committed) is going to disappear. There is still a chance that it can be extended, but for that to happen, action is needed. Please visit this Plug-in America link and sign the petition so it gets forwarded to your representatives in Congress (it only takes 30 seconds). In another time this would have probably been extended without a glitch, but nowadays, with tea-lovers controlling one party and Compromiser In-Chief leading the other, I'm afraid anyy clean tech advance made during the past few years could be on the chopping block starting January. Hey, they have to find the money somewhere to pay for the tax credit extension for the top two percent, right?