New analysis has found that a Senate plan to extend the federal electric vehicle (EV) tax credit would cost taxpayers as much as $16 billion over the next decade, money that in recent years has largely gone toward the purchase of luxury electric vehicles.
It should come as a surprise to congressional supporters of the Energy Independence and Security Act (EISA), that their 2007 votes to expand the Renewable Fuel Standard (RFS) to advance “homegrown energy” would lead to historic U.S. imports of biodiesel
When Congress created the Renewable Fuel Standard, the intent was clear. The RFS was supposed to build a market for American-grown biofuels and support domestic energy security. Today, EPA wants to deviate wildly from this course. Instead of maintaining the RFS as a program for liquid transportation biofuels, EPA’s RFS proposal for 2023 to 2025 would begin transforming the RFS into yet another huge government subsidy for electric vehicles.
Nine U.S. senators today called on the administration to uphold the law and ensure that qualified small refineries continue to have protection from disproportionate economic hardship brought on by the Renewable Fuel Standard (RFS).