$250 Monthly Tax Benefit Bill For EV Drivers/Workers Introduced In Senate
There is a chance for a pre-tax transportation benefit for EV drivers as US Senator Sherrod Brown has introduced a new bill allowing employers to give workers such a benefit.
S.3450 – A bill to amend the Internal Revenue Code of 1986 to include electric charging of certain vehicles as a qualified transportation fringe benefit excluded from gross income.
It would work similarly to traditional forms of transportation expenses, such as public transportation allowances, parking fees, and public transit passes.
For a plug-in vehicle to qualify for the benefit it would need to have at least 4 kWh of battery capacity on board (or at least 2.5 kWh in case of two and three-wheelers).
The value of the benefit could be up to $250 a month, or $3,000 a year.