Thursday, July 25, 2024
Home Electric Cars Biden's giant infrastructure plan relies heavily on electric cars

Biden’s giant infrastructure plan relies heavily on electric cars

Spencer PlattGetty Images

  • President Biden’s plan, officially known as the American Jobs Plan, includes $ 174 billion in funding for electric vehicles and EV charging stations, $ 80 billion in public transportation, and another $ 80 billion in railroads.
  • The construction and maintenance of traditional infrastructure elements – such as highways, bridges and roads – will receive $ 115 billion.
  • EV fans are unsurprisingly excited and call this a “down payment for the future of transportation”. They expect private investment to follow the US dollar.

    There are a lot of things in President Biden’s $ 2.3 trillion presidential proposal, but before we get to the concerns of the sky falling, we should mention an important point that is not in the American employment plan: a ban of gas-powered vehicles.

    Biden’s forward-looking plan certainly includes big bucks to promote electric vehicles, but there is no end date for gas vehicle sales in the US. This is how it differs from some state and local laws (or attempts). limit the sales of gas-powered cars, such as Massachusetts and California. Despite the lack of a ban, the plan aims to take a big bite off America’s contribution to global warming. The reason the law is focusing on electric vehicles isn’t exactly a secret: Transportation Secretary Pete Buttigieg told NPR this week that the government believes “time is running out” to address climate change, and this law is one way how the federal government is addressing the challenge.

    If we look at the $ 620 billion transportation spending included in the plan, as the Wall Street Journal did, it is clear that electric vehicles will benefit the most thanks to the $ 174 billion spending including incentives to buy electric vehicles and support to get more electric vehicles Chargers installed across the country: 500,000 by 2030.

    The definition of old school infrastructure – your basic bridge, freeway, and road package – is included in the American employment plan, just not as a top priority. In the transportation category, they are in second place with 115 billion US dollars. There’s also $ 80 billion for public transportation, $ 80 billion for passenger and freight trains, $ 25 billion for airports, and $ 20 billion for road safety. Other features of the bill include lead water pipeline replacement, workforce development, and $ 213 billion in affordable housing.

    ev charging

    Smith Collection / GadoGetty Images

    The $ 174 billion EV support, of course, is the most watched by connected auto industry players.

    “To fully understand the president’s proposed investment in electric transportation, we need to assess the magnitude of the challenge,” Joel Levin, executive director of EV advocacy, Plug In America, said in a statement. “This $ 174 billion federal investment is designed to activate all of the private human and financial capital needed and is only a fraction of the real cost of this transformation. This is a down payment for the future of transportation.”

    Pasquale Romano, president and CEO of EV charging station operator ChargePoint, said the government money will stimulate private sector investment in EV charging infrastructure in the US

    “We encourage Congress to pass laws that support the proposed plan and include discounts for businesses that expedite the installation of charging infrastructure for apartment buildings and workplaces,” he said in a statement, adding that Congress should expand tax credits to Fund the electrification of the fleet to support charging infrastructure on US freeways.

    Spending $ 2.3 trillion on infrastructure seems – okay, is – a lot of money, but even that figure isn’t enough for some. For example, the $ 80 billion for public transportation and $ 80 billion for railways are what the environmental group Climate Nexus calls a good start.

    “It will take US $ 1 trillion in rail investment to meet President Biden’s goal of sparking the Second Great Railroad Revolution and Secretary Buttigieg’s goal of making the United States a world leader in high-speed rail,” said Marcela Miceli of Climate Nexus in a statement.

    Perhaps Congress will listen when it makes changes to Biden’s proposal before it goes into law.

    This content is created and maintained by a third party and is imported onto this page so that users can provide their email addresses. You may find more information on this and similar content at piano.io

RELATED ARTICLES

Most Popular

Recent Comments