The action – or more accurately, the lack of action – by Congress has been blamed for many things this past, gridlocked year. To the list add the potential for the electric vehicle market to come unplugged.
Lawmakers have headed home for the New Year’s break allowing a package of 55 generally popular tax breaks expire, an issue that creates potential headaches and added costs for those who drink imported rum, those who use mass transit – as well as the railroads trying to maintain their rights of way – film producers, companies investing in R&D, and even teachers who buy supplies for their classrooms. Also affected are those interested in purchasing electric vehicles.
While the tax credits for buying a battery car remain in effect, two other government incentives will expire at midnight: one providing a 30% tax credit for the purchase of a high-speed electric vehicle charger, up to $1,000. The other covers 10% of the cost, up to $2,500, for the purchase of an electric motorcycle.
“It’s shameful” for Congress to head home without acting on the tax breaks, lamented Georgia’s Congressman John Lewis, a senior Democrat on the House Ways and Means Committee, which oversees tax laws.