Republican senators call for $1,000 tax on new EV sales to pay for road repairs
ReutersFeb 12, 2025 5:37 PM
WASHINGTON, Feb 12 (Reuters) - A group of Senate Republicans on Wednesday proposed a $1,000 tax on new electric vehicle purchases to account for the cost of federal road repairs.
Most revenue for federally funded road repairs is collected through taxes on diesel and gasoline, which EVs do not pay.
The one-time $1,000 fee charged at the time of purchase would be roughly equivalent to what drivers of conventional vehicles pay in federal gas taxes over 10 years for highway funds, said Senator Deb Fischer, the lead sponsor of the measure.
Disclaimer: The information provided on this website is for educational and informational purposes only and should not be considered financial or investment advice.
Related Articles
$660B Capex Bill Triggers $900B Wipeout: Why Apple Shares Outperform Amazon and Google Despite AI Lag
Based on financial disclosures, the combined 2026 capital expenditure forecasts for Meta, Amazon, Google, and Microsoft are projected to reach $660 billion. This figure is not only significantly higher than the $410 billion forecast for 2025 and $245 billion for 2024, but even surpasses the GDP of ITradingKey
20 hours ago
Amazon Stock Predictions for 2026 to 2030: Will They Exceed Expectations and Achieve Major Long-Term Goals?
TradingKey - As we head into 2026, many investors are questioning where Amazon (AMZN) fits into the technology world.TradingKey
20 hours ago
A Crash After a Surge: Why Silver Lost 40% in a Week?
TradingKey - Spot silver (XAGUSD) prices continue to decline. Silver plunged 20% on Thursday, breaking below $71 per ounce, with the sell-off intensifying on Friday as prices fell further below $64. Compared to the all-time high set on January 29, silver prices have retraced more than 40%, wiping out nearly all gains accumulated over the previous month.TradingKey
23 hours ago
Is Bitcoin’s Four-Year Cycle Dead in 2026?
Is the Bitcoin 4-year cycle dead? After 2025 broke historical records with a red post-halving year, institutional analysts explore if the Bitcoin price has decoupled from the halving countdown. Analyze the impact of spot ETFs, global liquidity, and the roadmap to the 2028 halving in this 2026 marketTradingKey
Wed, Feb 4
