Ohio Senators Support Tax Credits for Electric Vehicles
COLUMBUS, Ohio — State Sens. Sean O’Brien, D-32 Bazetta, and Michael Rulli, R-33 Salem, testified Tuesday in support of tax credits to encourage the purchase of electric vehicles in Ohio.
The senators offered sponsor testimony in the Senate Ways & Means Committee for Senate Bill 257. According to a release, the bipartisan bill offers a $500 sales tax credit for the purchase of one electric vehicle for personal use; a $1,000 sales tax credit for each of up to 10 electric vehicles to be used for commercial use; and a $1,500 sales tax credit for the construction of charging stations for both commercial and personal use.
“Considering the rapid advances in electric vehicles and battery technology over the past few years, it is clear that the future of automobiles is all electric,” said O’Brien. “We see an opportunity to make Ohio the electric vehicle capital of the country. Not only does our state possess the skilled workforce necessary for such an endeavor, but it also has the right infrastructure and business relationships.”
If passed, the legislation would sunset after five years. Additional hearings are expected in the coming weeks.
“Incentivizing individuals and fleet owners in our state to covert to EVs signals that Ohio is serious about an all-electric future, something which could prove instrumental in attracting more new EV business to our state,” said Rulli. “This is in addition to creating increased demand for EVs and other products associated with them, which could correspond to more jobs for Ohio’s already highly-skilled manufacturing workforce to fill.”
Copyright 2024 The Business Journal, Youngstown, Ohio.