DeAngelo, Wagner, Coughlin, Fuentes, Benson, Ryan, Wilson, Vainieri Huttle & Cryan Bills Offer Tax Credits for Purchases of Electric Cars & Charging Stations
(TRENTON) – Assembly Democratic legislation to promote the buying of electric vehicles by New Jersey residents and businesses through tax credits was approved Thursday by the Assembly.
The three bills are sponsored by Assembly Democrats Connie Wagner, Craig J. Coughlin, Angel Fuentes, Valerie Vainieri Huttle, Wayne DeAngelo, Daniel R. Benson, Kevin J. Ryan, Gilbert “Whip” Wilson and Majority Leader Joseph Cryan.
The package comes shortly after President Barack Obama, in his State of the Union address, pledged to work to put 1 million advanced technology vehicles such as electric cars and hybrids on America’s roads by 2015.
The bills would:
· Provide a corporation business tax credit or a gross income tax deduction for the purchase and installation of electric vehicle charging stations (A-3650). Sponsored by Wagner, Coughlin, Fuentes, Vainieri Huttle and DeAngelo. It was approved 46-18-13.
· Provide a corporation business tax credit or a gross income tax deduction for the purchase of an electric vehicle or plug-in hybrid electric vehicle and a corporation business tax credit for the purchase of an electric truck or electric bus (A-3651). Sponsored by Benson, Ryan, Wilson, Vainieri Huttle and DeAngelo. It was approved 46-18-13.
· Urge the U.S. Congress and the President to provide financial support and other incentives to the states to promote and incentivize the purchase of electric and hybrid electric automobiles (AR-133). Sponsored by Cryan and DeAngelo.
“It’s clear that electric cars can play a lead role in tackling some of our biggest concerns, whether it be our reliance on foreign oil or environmental and health concerns,” said Wagner (D-Bergen). “These bills will help steer New Jersey in the right direction.”
“We should be supporting cleaner energy alternatives such as electric vehicles to invest in our future,” said Benson (D-Mercer/Middlesex). “It will mean a cleaner environment, a stronger economy and job creation for our residents.”
“These bills are job creation and economic development measures, plain and simple,” said DeAngelo (D-Mercer/Middlesex). “If we send the message that New Jersey is welcoming toward electric vehicles, than we’ll see more sales and attract an entirely new industry that can bring new high-paying jobs for working class residents.”
“We should be doing all we can to promote electric car usage and purchases in New Jersey,” said Coughlin (D-Middlesex). “These bills aren’t a cure-all, but they’re certainly a great stride toward making New Jersey a friendly state for electric cars, and that’s a great thing.”
“We’ve heard all too often about the serious health concerns facing many children in congested urban areas, and we know some of that comes from exhaust pollution,” said Fuentes (D-Camden/Gloucester). “These bills won’t instantly fix that problem, but they will finally push our state in the right direction toward making it easier to buy and use electric cars.”
“We can and should do more to promote electric cars and the economic development, job creation and cleaner air they will bring to our state,” said Ryan (D-Essex). “Everything has to start somewhere, and these bills represent a great start toward making New Jersey a focal point for electric car sales and usage.”
“Electric cars and the future and New Jersey should ride that wave,” said Wilson (D-Camden/Gloucester). “New Jersey has been on the forefront of many technological advances, and with these bills, we’ll position New Jersey to be at the forefront of electric cars.”
“These bills are a sensible and response way to promote the purchases of electric cars in New Jersey, which helps our economy and environment,” said Vainieri Huttle (D-Bergen). “This is a great start toward a smart future for New Jersey.”
“Electric vehicles and their recharging stations can be used to attract new business and industries to the state, which will lead to new jobs, economic growth and reduced energy costs for businesses, individuals, schools and governments,” said Cryan (D-Union).