Barrasso: It’s Time to Pull the Plug on the Electric Car Subsidy



Click here to watch Chairman Barrasso’s remarks.

WASHINGTON, D.C. — Today, U.S. Senator John Barrasso (R-WY), chairman of the Senate Committee on Environment and Public Works (EPW), delivered the following remarks on the Senate floor on the introduction of the Fairness for Every Driver Act. This legislation will save billions in taxpayer funds by ending the federal electric vehicle tax credits and strengthen the Highway Trust Fund by ensuring that alternative fuel vehicle drivers pay into it. The legislation is cosponsored by Sens. Mike Enzi (R-WY) and Pat Roberts (R-KS).

Read the text of the Fairness for Every Driver Act here.

Senator Barrasso’s remarks:

“U.S. taxpayers are subsidizing the electric-car industry. The cost to taxpayers is billions of dollars.

“These subsidies have lasted now for nearly 30 years.

“In 2008, Washington added the tax credit for purchases of electric-vehicle.

“The market was still small but worth encouraging.

“But today, the market for electric vehicles is well established.

“The auto industry no longer needs these pricey subsidies for electric vehicles.

“I believe it is time to pull the plug on subsidies for electric vehicles.

“Leading manufacturers including General Motors, Ford and Volkswagen have announced plans to massively increase investment in the electric-vehicle market.

“Global automakers are promoting electric-car luxury brands, such as Bentley, Aston Martin, Maserati, Porsche and Cadillac.

CONTINUE READING ON www.epw.senate.gov

                   

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