Dems Embrace Biden Plan for $200 Billion Subsidy to Electric Vehicle Market in Infrastructure Bill

Colorado Democratic Sen. Michael Bennet applauded President Joe Biden’s proposal to spend nearly $200 billion to prop up the electric vehicle market as part of his $2.25 trillion American Jobs Plan.

“I view this as our best opportunity in decades to make the long-term investments we have put off for years,” Bennet said on a conference call hosted by Climate Power on Wednesday. “The American Jobs Plan puts out $40 billion in our natural infrastructure to restore our forests, protect our watersheds — some of that is based on my Outdoor Restoration Partnership Act that I wrote as a result of the fires we’ve seen.

“Hundreds of billions of dollars in the proposal to expand clean energy infrastructure and the importance of including clean energy standards would dramatically reduce carbon emissions from electricity. And nearly $200 billion in investments for the deployment of electric vehicles, I could go on.”

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Currently, the federal tax rebate for consumers who purchase fully electric cars is $7,500. The rebate could increase to $10,000 under the Biden proposal, which hasn’t been formally drafted into legislation yet.


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