Federal EV Tax Credits could be on the Chopping Block - Drive Electric Northern Colorado

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Federal EV Tax Credits could be on the Chopping Block

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Do you believe that electric vehicle (EV) adoption is key to reducing our oil dependence? If so, you might consider calling your US senator and asking them to protect the federal EV tax credit.

There are few changes that would bring us more energy security than an electrified transportation system. Ending our nation’s oil dependence for our transportation needs would increase national security, make us economically stronger, promote technological innovation, boost public health, and increase quality of life in our cities.

Over the course of only a couple of decades, an electrified transportation system would save Americans trillions of dollars by ending the flow of American dollars to foreign nations for oil imports, decreasing medical spending on respiratory and related problems, and eliminating the need to use military force to secure oil supplies. Don’t believe the numbers? The American Lung Association, in a study of 10 states, estimated that a fully electrified transportation system would save these states to the tune of $20 billion annually. Again, that’s only 10 states. In 2016 alone, the U.S. spent roughly $123 billion dollars on imported oil, and has sent $1.6 trillion to OPEC member states in the past 10 years. We spend $67.5 billion annually securing oil supply routes all while endangering American lives. And, finally, estimates of environmental costs of oil use vary from hundreds of billions to trillions of dollars over the next several decades.

Further, our transportation system currently relies on oil for 92% of its energy needs and our entire economy depends on moving people and goods. Oil prices are volatile and subject to fluctuations that are out of America’s control. By relying almost exclusively on oil for our transportation needs, we jeopardize the stability of our economy and give up a considerable amount of our national freedom and autonomy.

If all of these benefits seem too distant and abstract, there are plenty of benefits that EVs and the federal EV tax credit are bringing to your local community right now. Colorado’s rapid embrace of EVs has brought $75 million in federal benefits to our state over the last five years. EV component manufacturing currently employs 215,000 people nationally and many Colorado firms such as UQM Technologies and Lightning Systems are leading the way in the sector. Today there are more than 10,000 EVs on Colorado roads and every electric mile they drive is powered by electricity generated right here at home.

Colorado has already greatly benefitted from EV adoption, and is one of the states spearheading a vision for a stronger, electrified America. The federal EV tax incentive has been critical to Colorado’s successes in these efforts. If you’d like to see Colorado continue to blaze a trail of innovation, prosperity, and security on behalf of the entire nation, call your senator and ask them to protect the federal EV tax credits in the upcoming tax reform efforts.