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Market Chatter: GOP Senators Propose $1,000 Tax on New EV Sales for Road Repairs
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Market Chatter: GOP Senators Propose $1,000 Tax on New EV Sales for Road Repairs
Feb 12, 2025 10:28 AM

01:08 PM EST, 02/12/2025 (MT Newswires) -- A group of Republican senators on Wednesday proposed a $1,000 tax on new electric vehicle purchases to help pay for road repairs, Reuters reported.

The one-time $1,000 tax charged at the time of purchase would be about equal to what drivers of conventional vehicles pay in federal gas taxes over 10 years for highway funds, according to Sen. Deb Fischer, the lead sponsor of the measure, Reuters reported.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

Price: 344.34, Change: +15.84, Percent Change: +4.82

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