The Open Forum EV tax credit is burden for some
Electric vehicles are now commonplace. Consumers have many choices from lower cost EV’s to high-dollar EV’s. Taxpayers don’t have a choice though about having to pay up to $7,500 for every electric vehicle sold. Sen. John Barrasso of Wyoming has introduced a bill in the U.S. Senate (S.343) to amend the Internal Revenue Code and end the tax credit for new electric vehicles. Eliminating this credit is long overdue. Colorado also adds up to $5,000 in EV rebates. Why? Considering that eight out of 10 EV credits go to households earning over $100,000; why are such subsidies necessary?
The electric vehicle market has already been established. Do the many households earning less than $100,000 need to be bearing this tax burden? Electric vehicles are also being subsidized by not having to pay fuel taxes for road maintenance. Colorado taxpayers should ask our senators to support Barrasso’s bill in Congress. Colorado should also repeal its Electric Vehicle rebates in fairness to its citizens.