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Illinois Joins NY, Cali, and European Union, Uses Tax Incentives to Lure Buyers to EVs

It appears the global auto industry is going to have to drag the world kicking and screaming into the all-electric revolution taking place before our eyes. While most European Union members and several key states like California and New York have already pledged to eliminate fossil fuels from their state roads by the mid-2030s, others have been slower to respond.
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It appears Illinois is the next state to follow in this line. State lawmakers announced the passage of new state legislation that would add financial incentives to purchasing EVs under the Illinois Reimagining Electric Vehicles Act.

The main apparatus that the state hopes will lure people away from internal combustion is a set of comprehensive tax incentives and cash-back programs. The program is designed to make the transition between ICE and electric propulsion feel less stressful for consumers who are long waiting to ditch their petroleum-powered vehicles for EVs, but may have been hesitant for strictly financial reasons.

Illinois currently serves as the home state of Rivian EV's main production headquarters, giving state lawmakers even more incentive to attempt to lure its citizens into electric vehicles. The change in attitude first came a few months ago when it was announced that the state would give a $4,000 incentive towards buying EVs. This latest bill is another giant leap towards EVs that isn't likely to be reversed.

Once purchased, the money will flow back to in-state businesses that re-enforce and stimulate the state economy. With the added benefit of a major city like Chicago in such close proximity, it looks like the perfect time for any Chicagoan to switch to EVs is right now.

This latest round of EV legislation earned the approval of the Illinois Manufacturers' Association, but divided the opinion of other groups like the Illinois Chamber of Commerce, who argued these changes might incentivize petrochemical companies in the area to move elsewhere, costing hundreds if not thousands of jobs in the process.

Only time will tell if these new incentives will finally make the parking lot outside of a Chicago Bears game filled with EV charging stations.
 
 
 
 
 

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