Legislation increases tax credit and removes barrier for purchasers
Montpelier, VT (April 28th) – At a charging station in Montpelier this morning, Rep. Peter Welch unveiled new legislation that makes electric vehicles more affordable for middle-income Vermonters and easier to purchase. Welch arrived at a Statehouse electric vehicle charging station driving a 2014 Ford Fusion Hybrid Energi provided by Lamoille Valley Ford.
“One of the biggest contributors to climate change in Vermont and across the country is vehicle emissions. It is essential that we transition to cleaner, more efficient transportation like electric vehicles,” said Welch. “The battery life and fuel efficiency of electric vehicles are steadily improving making them more accessible and practical to drive. This legislation will make them more affordable while saving Vermonters money at the gas pump and reducing their environmental footprint.”
Welch was joined by Dan Keene, owner of Lamoille Valley Ford and Twin State Ford, Karen Glitman, Director of the Transportation Efficiency Program at VEIC, and Montpelier Mayor John Hollar. Mayor Hollar is leading the Net-Zero Montpelier initiative that includes the installation of charging stations to promote electric vehicle use.
The Electric CARS Act increases the maximum electric vehicle credit to $10,000 from $7,500. It also allows the tax credit to be taken at the point of sale so that the savings can be immediately passed on to consumers rather than waiting until filing their tax returns. Under current law, many middle-income Vermonters do not have enough tax liability to qualify for the full tax credit. The bill also allows the credit to be assigned to the dealer who has the capacity take advantage of the full credit.
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Contact: Ryan Nickel
202.225.4115
