Ohio Senator Introduces Legislation to Extend Pre-tax Benefits to EV Drivers
To further encourage the use of electric cars, Sen. Sherrod Brown (D-OH) has introduced
S. 3450, the
Electric Vehicle Credit Act, legislation that would exclude transportation benefits for electric vehicle charging from an employee’s taxable income, the same way many employees can exclude other transportation benefits, like transit passes or parking fees.
Specifically, employers would be able to give up to $250 per month in electric charging benefits without employees being taxed. Employers would not be required to offer the benefit, but for those who do, employees who drive cars with 4 kWh or larger battery packs or motorcycles or three-wheelers with 2.5 kWh or greater battery packs, would be eligible. The proposal also offers incentives to employers to install electric charging equipment for their employees to use while at work. Not surprisingly, the bill has been endorsed by the Electric Drive Transportation Association.