SAFE Submits Letter To House Ways & Means Committee Supporting EV And EV Infrastructure Tax Credits

As the United States competes with China for leadership in tomorrow’s connected, autonomous, shared and electric vehicle technologies, SAFE submitted a letter to the House Ways and Means Committee hearing on leveraging the tax code for infrastructure investment that urged strong, bipartisan support for the inclusion of the Electric Vehicle (EV) Credit (Section 30D), the EV Charging Infrastructure Credit (Section 30C), and the stand-alone Energy Storage Investment Tax Credit (Storage ITC). SAFE also highlighted the importance of including Vehicle-to-Grid (V2G), or bi-directional charging, capability in the Section 30C EV Charging Infrastructure Credit.

In the letter, SAFE President and CEO Robbie Diamond said, “Today, the United States is racing with China, our greatest near-peer competitor, to retain control over the technologies of tomorrow. While China has state-owned enterprises to invest in advanced transportation technologies, the United States has a robust and engaged private sector. However, to win this race – and we are in a race to maintain and bolster our technological leadership in the transportation sector – the U.S. government must do more to support private sector investment. Tax credits are one of the most powerful and influential tools available for you to incentivize and help spur
private industry. SAFE believes that tax incentives to spur nascent clean energy and transportation electrification technologies and enhance our global economic competitiveness are vital.”

Read the letter.