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Tax package would create new credits for electric vehicles

Michael Fousert
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Unsplash

A package that has numerous climate tax credits including one for electric vehicles and charging stations passed the Senate Monday.

The vote was 26-13 mostly along party lines, with several Republican lawmakers making their opposition clear.

Sen. Craig Brandt (R-Rio Rancho) said EVs are only for certain people.

For all the wealthy folks out there that can hear me and are listening in, we're going to help you buy one,” he said. “We'll give you some money back for your really expensive car. And we'll give you some money back for putting that plug in your house.”

Under the package, consumers would qualify for the credit beginning in the 2024 tax year and it would sunset in 2029. That cash could be immediately used on a down payment, and a dealership would receive the cashback during tax filing.

Sen. Benny Shendo (D-Jemez Pueblo) sponsored the tax package bill and said the state should focus on electrifying all of New Mexico including Indigenous communities like Zuni and Jemez Pueblos who recently invested in EV stations.

“I think having all charging stations in these rural communities, Indigenous communities will not only help but also assist our travelers to be able to enjoy all of New Mexico without being stranded somewhere in the middle of nowhere,” he said.

Shendo said Indigenous people have always been stewards of the land.

“I think clean air, clean water, all of this stuff is important,” he said. “As part of, not just us as Indigenous people, but for those that can’t speak for themselves. Whether it's the land, you know, the animals that live in it. I think all of us need that.”

The bill contains a number of tax credits that passed last year. They were vetoed by Gov. Michelle Lujan Grisham, but the clean car income tax credit is one of her priorities this year.

It must now go back to the House for concurrence. The legislative session ends on Thursday February 15 at noon.

Support for this coverage comes from the Thornburg Foundation and KUNM listeners.

Jeanette DeDios is from the Jicarilla Apache and Diné Nations and grew up in Albuquerque, NM. She graduated from the University of New Mexico in 2022 where she earned a bachelor’s degree in Multimedia Journalism, English and Film. She’s a former Local News Fund Fellow. Jeanette can be contacted at jeanettededios@kunm.org or via Twitter @JeanetteDeDios.
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