Bills Would Provide Corporate, Personal Tax Credits for Purchasing Electric Vehicles and/or Electric Charging Stations
(TRENTON) — Assembly members Connie Wagner (D-Bergen) and Daniel R. Benson (D-Mercer) issued a multimedia package Thursday in which they discuss their legislation to create tax credits for electric car purchases.
The first bill (A-3650) would provide a corporation business tax credit or a gross income tax deduction for the purchase and installation of electric vehicle charging stations. The second measure (A-3651) would 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, as well as a corporation business tax credit for the purchase of an electric truck or bus.
The multimedia package consists of a video of Wagner and Benson discussing their legislation and audio and a transcript of same.
The audio file is available upon request.
A transcript of comments from the legislators is appended below:
Assemblywoman Connie Wagner (D-Bergen):
“Well, we have been talking about creating new technology, about promoting business, about providing people with jobs and electric cars — and the technology that will be needed to promote its use — will create jobs for New Jersey and will also be good for the environment.”
Assemblyman Daniel R. Benson (D-Mercer):
“By providing incentives for plug-in hybrids, as well as all-electric vehicles — both for businesses and for individuals — it really helps to start a new trend in purchasing these vehicles.”
“If you’re purchasing the electric charging stations, this is going to create revenue. If you’re purchasing the electric cars, this is going to create revenue. Also, just think about this, I need people to sell it, I need people to make it, I need people to fix it. So this is creating a whole industry.”
“In the president’s State of the Union address, he talked about the importance of making sure we invest in technologies for the future and making sure that we set ourselves and our states on a path to get ourselves away from a dependence on foreign oil.”
“What we hope to do is give people an incentive to purchase electric cars and also to give them an incentive to purchase the charging stations. So, to me, this is a win-win for New Jersey — for the environment as well as for the economy.”