Casten, Foster, Underwood and Rush highlight funding for electric vehicle infrastructure

Congressman Sean Casten, Congressman Bill Foster, Congressman Lauren Underwood and Congressman Bobbie Rush highlight funding for electric vehicle infrastructure at the Lion Electric Vehicle Manufacturing Plant. Democratic-led tax credits and investments in electric vehicle innovation will fuel Illinois’ economic future

U.S. Congressman Sean Casten (IL-06), Bill Foster (IL-11), Congressman Lauren Underwood (IL-14) and Congressman Bobby Rush (IL-1) held on Monday, March 21, 2022 a tour of the Lion Electric Vehicle Manufacturing Plant in Channahon, Illinois.

Members were joined by officials from the Environmental Protection Agency, Lion Electric, and state and local government leaders to highlight federal funding and investment law tax credits and infrastructure employment aimed specifically at expanding electric vehicle charging infrastructure, and why it’s so important to Illinois’ economy.

“I’m proud to have fought hard to make this wave of federal and state investment in electric vehicles a reality because Illinois has the workforce, innovation and leadership to leading the clean transportation revolution and becoming the economic center of electric vehicle manufacturing and technology. From EV automobile manufacturers like Lion Electric and Rivian and pioneering battery technology research at Argonne National Laboratory in the unions like IBEW training the next generation of skilled workers to build and install new electrical infrastructure, people across our state are stepping up to ensure our transition to a cleaner, stronger economy,” Casten said.

“Illinois will lead the nation in our fight against climate change – protecting our planet, our economy and our health by ensuring that Illinois is a force for an environmental and economic future we can be proud of.”

Congressman Sean Casten
Congressman Sean Casten

The combined influx of investment and tax incentives from the electric vehicle provisions of the Infrastructure and Jobs Act. reduced costs and taxes for Illinois drivers.

Expansion Solutions Magazine recently published an article explaining why Illinois is becoming the Silicon Valley of electric vehicles.

The Infrastructure Investment and Jobs Act, which made the largest-ever federal investment in electric vehicle infrastructure, will provide Illinois with $149 million over five years to build a strong national network of chargers throughout the state. Illinois will also have the opportunity to apply for a $2.5 billion grant dedicated to electric vehicle charging in highway corridors, rural and disadvantaged communities. This massive influx of funding presents a huge opportunity for companies like Lion Electric to create thousands of jobs.

The new Joint Bureau of Energy and Transportation and will help Illinois’ electric vehicle infrastructure development plans.

For the program’s first year, Illinois will receive more than $21 million to begin this work. Under the Infrastructure Investment and Jobs Act, the programs will provide nearly $5 billion over five years to help states create a network of electric vehicle charging stations along fuel corridors designated alternatives, particularly along the interstate highway system.

The total amount available to states in fiscal year 2022 under the NEVI Formula program is $615 million. States must submit an electric vehicle infrastructure deployment plan before they can access these funds.

A second competitive grant program designed to further increase access to electric vehicle charging across the country, including in rural and underserved communities, will be announced later this year.

Governor Pritzker signed into law the Reimagining Electric Vehicles Act (REV) in October 2021, not only providing climate solutions that will reduce costs for consumers, but offering significant incentives that make Illinois a prime location for companies related to electric vehicles looking to expand.

The legislation, which will bolster the creation of new electric vehicle and component production capacity and put 1 million electric vehicles on the road by 2030, includes:

A $4,000 rebate if you buy an electric vehicle in Illinois and rebates of up to 80% on the cost of installing a charging station. Both incentives begin July 1, 2022. Shoppers will need to claim the rebates within 90 days of purchase. Incentives can be applied to new or used electric vehicles.

      • Refundable tax credit of up to 100% of payroll taxes collected by new manufacturers of electric vehicles or electric vehicle components, which is critical to attracting a battery supplier to Illinois, reducing costs and delays associated with international supply chain issues
      • Income tax deduction equal to 75% for new employees (100% in underserved areas or in energy transition)
      • Credits for education and vocational training
      • Tax exemptions for building materials and utilities
      • Capital expenditure credits for electric vehicle and battery installations

Lion Electric, the first manufacturer to put electric school buses on the road, is on track to create more than 1,400 clean manufacturing jobs over the next four years. Its Joliet plant will be the largest plant dedicated to manufacturing medium and heavy electric vehicles in the United States and has an annual production capacity of at least 20,000 all-electric buses and trucks per year.

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Ray Hanania
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