New Report: EV Tax Credits Ineligible

Who authored the report? US Department of Treasury Inspector General

What did it find?

  • IRS has no process to detect false claims for the credit
  • IRS has no process to prevent false claims for the EV credit

Recommendations:

  • Cross check VIN numbers with 3rd party VIN databases
  • Develop a compliance program at IRS to ensure EVs are the only vehicles claiming the credit
  • Cross check VIN numbers of EVs leased too
  • IRS should offer guidance to tax examiners for compliance

US Department of Treasury Inspector General | Millions of Dollars in Potentially Erroneous Qualified Plug-In Electric Drive Motor Vehicle Credits Continue to Be Claimed Using Ineligible Vehicles

Local TREND. +1 City Council Actions Opposing High Speed Rail

Where: City of Teague, Board of Aldermen, Texas

What does Teague list as reasons to oppose high speed rail?

  • No eminent domain authority & need it to complete the project
  • Negative impact to property values
    • Reduction in values and fewer uses of adjoining property
  • Delays for emergency vehicles
  • Prevents direct travel across the region.  
  • Serious safety concerns including: rail buckling, derailment, electromagnetic interference with freight rail, and concerns regarding proximity to natural gas facilities
  • Expense and inconvenience of the proposed rail line may require future public subsidy
  • “The Surface Transportation Board and the 87th District Court of Leon County have recently issued decisions against the Texas Central High-Speed Rail Project. “

Freestone County Times | CITY OF TEAGUE OFFICIALLY OPPOSED TO HIGH-SPEED RAILWAY

State Funding InterState Rail.

Where: A rail proposal between Los Angeles and Las Vegas

How much will California contribute? $0

What action will California take to financially help the privately funded train?

  • approve $300 million in tax-exempt private activity bonds for Virgin Trains USA
  • the private activity bonds will help Virgin Trains issue about $2.4 billion in debt

What are the touted benefits of the Los Angeles- Las Vegas high speed rail?

  • The rail will remove nearly 4.5 million cars off the road each year

How long will it take? Construction to begin in 2020 and last 3 years

El Paso Inc | California to assist financing of California-Vegas train

Japan Bank for International Cooperation + MOU = Texas High Speed Rail

How do a Japanese bank, an MOU and Texas High Speed Rail connect?

  • In 2018 Director and Governor for the Bank agreed to loan Texas Central $300 M
  • In September 2019, an MOU between the Bank & the state of Texas was signed
    • The MOU supports the promotion and encouragement of collaboration and development between the two regions

Does the bank invest in other Texas Projects? Yes, the Freeport LNG Project

STL News | Texas Governor Abbott Signs Memorandum Of Understanding With Japan Bank

3 States. 3 High Speed Rail Projects. 3 Different Levels of Progress.

Where are there high speed rail projects in the US? Texas, California, Florida

What are the difference in each project?

  • California
    • State and federal funds
    • Initial plan was LA to San Francisco, & dialed back to Central Valley to San Francisco
    • State Audits show the project billions over budget
    • Not using existing rail, still acquiring land
    • Services expected in 2028
  • Texas
    • Privately funded
    • Houston-Dallas route
    • Not using existing rail, still acquiring land
    • Service expected 2024
  • Florida
    • Private Virgin Trains behind the project
    • Proven success with the Miami and West Palm Beach train using existing track
    • Orlando route expected 2022

Governing | Despite Missteps, High-Speed Rail Lines in 3 States Point to Progress

Local TREND. Cap Vehicle Leasing Fees for Ride Share + Drivers for Hire

Where: NYC

Who will benefit from the NYC cap on vehicle leasing costs?

  • ride share drivers
  • drivers for or-hire vehicle companies

What vehicles will it apply to?

  •  leased vehicles
  • rental vehicles
  • lease-to-own vehicles
  • conditional purchase agreements of for-hire vehicles 

Crains New York | Bill would cap vehicle costs for Uber and Lyft drivers

Governor Executive Order. Transportation and Climate Change.

State: California

What agency did the California Governor direct to take action? California State Transportation Agency, all state funds, including CALPERS, California Air Resources Board

What does the California State Transportation Agency have to do?

  • investing in new technologies
  • establish best practices
  •  reverse the trend of increased fuel consumption & reduce greenhouse gas emissions 

What does the California Air Resources Board have to do?

  • push automakers to produce even more clean vehicles
  •  find ways for more Californians to purchase clean vehicles

California Governor | Ahead of Climate Week, Governor Newsom Announces Executive Action to Leverage State’s $700 Billion Pension Investments, Transportation Systems and Purchasing Power to Strengthen Climate Resiliency