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October 25, 2019 08:20 pm

Chuck Schumer Proposes 'Large Discounts' To Trade in Gas-Powered Cars For Electric Ones

US Senate Minority Leader Chuck Schumer (D-NY) proposed a plan that would provide car owners with "large discounts" if they trade in their polluting, gas-powered vehicles for "clean" electric ones. From a report: In an op-ed published in The New York Times, Schumer said the goal of his "cash-for-clunkers"-style plan is to ensure that every vehicle on the road is zero-emission by 2040. Schumer didn't reveal the exact amount of each per-person discount -- the legislation has yet to be written -- though he did note that lower-income Americans should get "an even bigger discount on a new vehicle or a discount on a used electric vehicle." Schumer estimates that his proposal would result in 63 million fewer gas-powered cars on the road by 2030. There are two other prongs to Schumer's Green New Deal-style plan: grants to states and cities to build out a robust EV charging network, and grants to businesses to retool manufacturing facilities to support the production of EVs and batteries. Schumer would deploy $45 billion in grants to upgrade the nation's charging infrastructure and $17 billion to encourage manufacturers to retrofit their facilities for EV production. Schumer estimates the entire proposal would cost $454 billion over 10 years.

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