Biden to Announce Approval of $900 Million in U.S. EV Charging Funding

President Joe Biden will announce today the approval of the first $900 million in U.S. funding to build Electric Vehicle (EV) charging stations in 35 states. The funding is a part of the $1 trillion infrastructure law approved and passed in November. 

Congress approved nearly $5 billion over five years to give grants to states to build thousands of electric vehicle charging stations. 

Biden will announce at the Detroit auto show that the U.S. government purchases of Electric Vehicles (EV) have risen dramatically. Biden will tour the famous auto show and tout the ‘electric vehicle manufacturing boom.’ 

From the show, Biden is expected to discuss how his auto vision and leadership, including through his Bipartisan Infrastructure Law, the Inflation Reduction Act, and the CHIPS and Science Act, have positioned the United States to lead the electric vehicle future. The boom in electric vehicles is expected to create more jobs and make more in America all while fighting climate change.

In 2020, less than one percent of new federal acquisitions were electric, which more than doubled in 2021. In 2022, government agencies will have acquired five times as many Electric Vehicles as all of the last fiscal year. 

Biden signed an executive order in December directing the government to purchase nearly all electric vehicles or plug-in hybrid electric models by 2027. 

The U.S. government owns more than 650,000 vehicles and purchases about 50,000 vehicles annually.

Biden wants half of all new vehicles sold to be electric or plug-in hybrid electric vehicles by 2030, as well as for there to be 500,000 new charging stations for electric vehicles. 

The recently passed Inflation Reduction Act includes a $7,500 tax credit for Americans who buy electric cars. It helps consumers out by removing a 200,000 vehicle-per-manufacturer annual cap starting in January. They’re also able to use the tax credit at the point-of-sale, transferring it directly to a car dealer.  Buyers can also get up to $4,000 in tax credit off a sale – of $25,000 max – of a used electric vehicle.  

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