Fueling America's Security and Transportation with Electricity Act of 2021 or the FAST Electricity Act This bill expands the tax credit for plug-in electric drive motor vehicles to include a 30% credit for additional electric transportation options capable of moving passengers, cargo, or property and powered by an integrated, on-board electric propulsion system. It also allows a credit for recharging and hydrogen refueling property and provides loan guarantees for transportation electrification domestic manufacturing facilities.
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Timeline
Introduced in Senate
Read twice and referred to the Committee on Finance.
Introduced in Senate
Read twice and referred to the Committee on Finance.
Taxation
Air qualityAlternative and renewable resourcesClimate change and greenhouse gasesEnergy storage, supplies, demandGovernment lending and loan guaranteesHybrid, electric, and advanced technology vehiclesIncome tax creditsIndustrial facilitiesManufacturingMotor fuels
FAST Electricity Act
USA117th CongressS-1791| Senate
| Updated: 5/24/2021
Fueling America's Security and Transportation with Electricity Act of 2021 or the FAST Electricity Act This bill expands the tax credit for plug-in electric drive motor vehicles to include a 30% credit for additional electric transportation options capable of moving passengers, cargo, or property and powered by an integrated, on-board electric propulsion system. It also allows a credit for recharging and hydrogen refueling property and provides loan guarantees for transportation electrification domestic manufacturing facilities.
Air qualityAlternative and renewable resourcesClimate change and greenhouse gasesEnergy storage, supplies, demandGovernment lending and loan guaranteesHybrid, electric, and advanced technology vehiclesIncome tax creditsIndustrial facilitiesManufacturingMotor fuels