FILE – An electrical automobile is charged at a parking storage in Los Angeles, Oct. 17, 2018. (AP Photograph/Richard Vogel, File)
However a funds shortfall might complicate California’s resistance efforts. Early funds projections present the state might face a $2 billion deficit subsequent yr, in response to a report launched final week by the nonpartisan Legislative Analyst’s Workplace. That’s an enchancment from an estimated $46.8 billion deficit the state confronted final yr, however the shortfall might nonetheless curtail the state’s means to develop new applications and battle federal authorized challenges. Legislative leaders in each chambers have stated the state wants to remain prudent in anticipation of future funds deficits.
Cash for the brand new rebate system might come from the state’s Greenhouse Fuel Discount Fund, which is funded by polluters beneath the state’s cap-and-trade program, the governor’s workplace stated.
Trump beforehand vowed to finish federal electrical automobile tax credit, that are price as much as $7,500 for brand new zero-emission autos. There’s additionally a $4,000 credit score for used ones. However Trump later softened his stance as Tesla CEO Elon Musk grew to become a supporter and adviser.
California’s defunct Clear Car Rebate Program supplied rebates on electrical automobiles as excessive as $2,500.
Any new rebate program “would include changes to promote innovation and competition” within the zero-emission autos market, the assertion stated.
Initially Revealed: November 25, 2024 at 10:18 AM PST
