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119-s-536119th CongressWALLET

Fair SHARE Act of 2025

Sponsored By: Senator Fischer, Deb [R-NE]

Introduced

Summary

Creates new excise taxes on electric vehicles and battery modules. The bill would charge $1,000 on each sale of a light‑duty electric vehicle and $550 on each sale of a battery module weighing over 1,000 pounds, and it directs Treasury to transfer those collections to the Highway Trust Fund. The bill defines electric vehicles by battery capacity and excludes hybrids that rely on an internal combustion engine and consumable fuel.

Show full summary
  • Buyers: People who purchase light‑duty electric vehicles would face an added $1,000 excise tax at the point of sale.
  • Manufacturers, producers, and importers: Those who sell EVs or qualifying heavy battery modules would be responsible for the new taxes on each unit sold.
  • Surface transportation programs: Treasury must transfer the revenues to the Highway Trust Fund, creating a dedicated stream of funds for roads and highways.

*Would create a new dedicated revenue stream for the Highway Trust Fund from EV and battery sales.*

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Bill Overview

Analyzed Economic Effects

1 provisions identified: 0 benefits, 1 costs, 0 mixed.

New federal taxes on EVs and batteries

This bill would place new federal taxes on electric vehicles and large battery modules. Manufacturers, producers, and importers would pay $1,000 for each electric vehicle they sell. They would also pay $550 for each battery module that weighs over 1,000 pounds and is meant for use in an electric vehicle. The bill defines electric vehicles as light-duty vehicles under 8,500 pounds and excludes some hybrids. If enacted, money from these taxes would be sent to the Highway Trust Fund. The taxes would apply to sales after December 31, 2025.

Sponsors & CoSponsors

Sponsor

Fischer, Deb [R-NE]

NE • R

Cosponsors

  • Sen. Ricketts, Pete [R-NE]

    NE • R

    Sponsored 2/12/2025

  • Sen. Lummis, Cynthia M. [R-WY]

    WY • R

    Sponsored 2/12/2025

Roll Call Votes

No roll call votes available for this bill.

View on Congress.gov
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