# Electric Vehicle Tax Credit Critical for American Economic and National Security Interests

- Link: https://greenlivingguy.com/2020/06/electric-vehicle-tax-credit-critical-for-american-economic-and-national-security-interests/
- Published: 2020-06-21T23:44:40-04:00
- Author: greenlivingguy

FOR [IMMEDIATE](https://www.electrificationcoalition.org/for-immediate-release-electric-vehicle-tax-credit-critical-for-american-economic-and-national-security-interests/)
RELEASE, February 7, 2019 / In response to the introduction of the [Fairness for Every Driver Act](https://www.congress.gov/bill/116th-congress/senate-bill/343/text?q=%7B%22search%22%3A%5B%22Barrasso%22%5D%7D),
which aims to eliminate the federal electric vehicle (EV) tax credit. It also is
about securing America’s [future energy](https://greenlivingguy.com/2019/12/%e2%80%8benergy-outlook/).

Total national [EV sales](https://greenlivingguy.com/2020/02/improving-electric-vehicle-sales-may-require-solving-unique-chicken-and-egg-problem/)
reached 1 million by November 2018. Similarly they still represent just one out 
of every 50 cars sold. That’s just in the United States.

Likewise as less fuel-efficient SUVs and light [trucks](https://greenlivingguy.com/2020/07/electric-semi-trucks-pledge-for-a-greener-future/)
continue to lead the way. In addition, U.S. oil production has hit record highs 
before COVID-19 and during the Obama Administration. So the uniquely global nature
of [oil pricing means that a supply](https://greenlivingguy.com/2005/12/oil-prices-will-increase-amid-supply-constraints/)
disruption anywhere in the world affects prices in the United States. That’s regardless
of how much oil we produce.

“[Electric cars](https://greenlivingguy.com/2020/03/electric-vehicles-the-future-of-transportation-2/)
are growing in popularity, but they have not reached a tipping point. The federal
EV tax credit is a crucial policy that has the potential to provide significant 
national security benefits—and as policing the world’s oil supply lines costs the
U.S. military at least $81 billion every year, it provides excellent value for money,”
Diamond added.

Currently the world’s largest oil consumer, the U.S. accounts for one-fifth of daily
global supply, leaving the American economy uniquely vulnerable to oil price spikes
and volatility. To mitigate this exposure, SAFE advocates for reduced dependence
through increased domestic production, improved fuel efficiency and greater fuel
choice.

![Securing America’s future with EV tax credit. Concept XR-PHEV](https://i0.wp.com/
greenlivingguy.com/wp-content/uploads/2015/01/mistuphev.jpg?resize=390%2C225&quality
=52&ssl=1)

The cost to fuel an EV is approximately half that of its conventional gasoline counterpart.
That means generating meaningful savings for American households and businesses.
EVs also benefit the broader U.S. economy and federal budget. The U.S. has spent
$2.5 trillion on imported oil in the last 10 years. Also $1.6 trillion of which 
has flowed directly to [OPEC](https://greenlivingguy.com/2016/12/electric-cars-may-take-an-opec-sized-bite-from-oil-use-says-bloomberg-markets/)
member states.

#### As written before:

As written before, electric cars are cleaner and cheaper to fuel and maintain – 
and we need to [build out the electric](https://greenlivingguy.com/2010/12/zero-motorcycles-electric-bikes-on-a-mission-to-build-their-own-electric/)
vehicle (EV) market so more drivers can reap the benefits. The progress we’re making
on EVs is vital to [cut our oil](https://greenlivingguy.com/2008/12/oil-prices-up-on-talk-of-opec-cut/)
use and reduce emissions. However, it’s also a threat to some very powerful industries
that have launched a lobbying campaign. One to interfere with pro-EV policies like
a tax credit.

A boom in [electric vehicles made](https://greenlivingguy.com/2007/03/media-lab-making-citycar/)
by the likes of Tesla Motors Inc. could erode as much as 10 percent of global gasoline
demand by 2035, according to the oil industry consultant Wood Mackenzie Ltd.

Source: Securing America’s Future Energy (SAFE) and the Electrification Coalition.