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Incentivize electric car purchases

In October, I introduced Bill 203, which will provide a $7,500 limited tax rebate to any person or business that purchases an electric vehicle. The intent of the bill is to make electric vehicles affordable for our working families and to incentivize and fast-track the Guam community into embracing this technology.

This bill addresses three key issues that are high on my priority list as a senator — the rising cost of living; economic stimulus; and long-term sustainability.

This incentive philosophy is no different from the incentive homeowners get when they file their taxes each year and receive a tax break on mortgage points and interest. The U.S. tax system rewards and incentivizes certain behaviors that are good for the economy. Bill 203 is no different — it incentivizes the purchase of electric vehicles, as this will keep more money in the pockets of our working families, stimulate our local economy, and contribute to island sustainability.

Only 10 years ago, an article appeared in the Pacific Islands Report reporting residents “up in arms” because gas prices had hit an all-time high of $2.31 a gallon. At the time, residents spoke of the hardship this created, and the need to reduce driving and spending to accommodate the rise in fuel prices.

Fast forward to 2013. Gas prices have (more than) doubled. During this same timeframe, wages have not kept pace with this rising cost. Today, the solution for most Guamanians remains the same — spend less money on ourselves, cut costs on our families and drive less
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