DENVER—Today, the Democrats on the House Transportation & Energy Committee rejected legislation, on party-lines, that would have ended a controversial tax credit for electric vehicles. The vote came on Senate Bill 18-047, sponsored by Representative Lori Saine (R-Firestone), which would have repealed a 1993 state law that currently provides $5,000-$20,000 in tax credits for alternative fuel or innovative vehicles.
While the tax credits are set to sunset at the end of fiscal year 2021, an immediate repeal of this tax credit would have reallocated $50 million over the next four years to the state, counties, and local municipalities for transportation construction and maintenance.
“Electric vehicle owners already don’t have to buy gas, which means Coloradans are currently subsidizing vehicles that aren’t paying for the roads they use,” said Saine. “For years, Democrats have failed to prioritize transportation funding, and there’s no better example of that than wasting $50 million dollars for new luxury cars rather than fix pot holes or expand Colorado’s highways.”
Senate Bill 18-047 passed out the Senate on party lines.