INDIANA NEWS SERVICE - Indiana workers could feel the effects of a sweeping federal bill targeting electric vehicle tax credits.
Optimal EV's plant in Elkhart employs 35 workers who build electric
commercial vehicles. The company said the budget under consideration in
the U.S. Senate could disrupt its growth. The bill would eliminate most
federal EV tax credits after 2025.
Jeff Hiatt, executive vice president of Optimal EV, said the move could hit smaller companies like his hard.
"Any help we can get to facilitate the sale of our product is good,"
Hiatt pointed out. "The 45W tax credit gives potential purchasers up to
40 grand tax credit on our product. So, it's important for us to kind of
fuel growth in the market."
Without the credits, Hiatt expects a slowdown. Supporters of the bill
said it reins in government spending and refocuses tax policy.
Hiatt argued the EV credits help customers afford vehicles.
"It would create an obstacle more for our customers," Hiatt emphasized.
"I would anticipate we'll see a little bit of a drawdown or slowdown of
inbound orders, much like we did when they paused the EPA funding
earlier in the year."
Congress faces a July 4 deadline set by President Donald Trump to finalize the bill.
Joe Ulery wrote this article.
Check for The 8
Comments
Post a Comment
You must have a Google account to make a comment on VBN. All comments are moderated by VBN before publication.
An approved comment doesn't imply VBN's sponsorship, endorsement, promotion, stance, or opinion of its contents.
Commenting is a privilege provided at VBN's discretion.