Belt Pushes for Boosting Electric Vehicle Manufacturing and Renewable Energy Investments
SPRINGFIELD – State Senator Christopher Belt is pushing for tax credits for electric vehicle manufacturers as part of the General Assembly’s final revenue package. This will incentivize electric vehicle manufacturing and renewable energy investments in Illinois and will pave the way for significant economic growth and a cleaner, more sustainable future for the state. “Tax credits for electric vehicle and renewable energy manufacturers will result in economic prosperity in our state,” said Belt (D-Swansea). “In addition, this will send a clear message that Illinois is open for a favorable business environment and committed to sustainable innovation.” Senate Bill 2576 would establish tax credits, known as Renewable Energy Vehicle credits, for qualifying electric vehicle and renewable energy manufactures that make substantial investments in capital improvements and maintain a strong workforce. To qualify, businesses must invest a minimum of $500 million
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