$450 Billion dollar plan put forward by Chuck Schumer to incentivize the transition to low-carbon transportation

In Washington D.C., Reuters reports top Senate Democrat Chuck Schumer proposed a 10 year $454 billion plan to help shift the U.S. away from gasoline vehicles through the offering of cash vouchers. The hope is that this will motivate more Americans to buy cleaner vehicles. This contrasts the Trump administration’s plan to roll back Obama-era fuel efficiency requirements, with the Trump administration stating that their “preferred option” would be to increase U.S. oil consumption by about 500,000 barrels a day. Schumer’s plan would provide rebates of $3,000-$5,000 to qualifying households and help 25% of U.S. vehicles shy away from traditional combustion-engine models within 10 years. Schumer’s proposal comes as a bipartisan attempt to win the support of auto workers in key Midwestern swing states that could be pivotal in determining if the Trump administration is headed for a second term. Ford Motor Company and General Motors stated that they appreciated Schumer’s efforts. The President of the United Auto Workers stated that Schumer’s proposal “honors the sweat and sacrifice of American autoworkers by investing in domestic manufacturing of electric vehicles and incentivizing high-quality jobs across the auto supply chain.”

Category: Policy