“The Multibillion-Dollar Implications of EVs for State Budgets,” authored by Jay Golden, Pontarelli Professor of Environmental Sustainability and Finance, was published in Governing.

While America’s transition to electric vehicles promises clear benefits for the environment and human health, declining fuel tax revenues will pose a challenge, Golden says.

“It’s not just the decline in fuel tax revenues and its impact on highway construction and maintenance. Real estate will also be affected, and sales taxes are likely to take a hit,” says Golden.

“Although it is important to note that not every state will be affected equally, each of them will face some sort of budgetary impact as battery-powered EVs and hybrid vehicles expand in the marketplace over the long term,” he says. “Now is the time for states to analyze the budget implications and develop strategies to address rapidly growing deficits and deteriorating roads.”

Read the full article at the link above.