On August 5, President Biden signed an Executive Order setting a new target to make half of all new vehicles sold in 2030 zero-emissions vehicles, including battery electric, plug-in hybrid electric, or fuel cell electric vehicles.
The Executive Order also initiates development of long-term fuel efficiency and emissions standards. In conjunction with this Order, the Environmental Protection Agency and U.S. Department of Transportation will soon announce how they plan to counter regulatory action on efficiency and emissions standards developed by the previous administration. These announcements, along with increased consumer interest in electric vehicles, makes clear that Congress must seriously address the long-term solvency of the Highway Trust Fund. As more electric and fuel-efficient vehicles join the nation’s auto fleet each year, gas tax revenue, which provides the lion’s share of funding for building our nation’s highway and bridge infrastructure, will continue to decline.