WASHINGTON, DC – Dr. Quinta Warren, Associate Director of Sustainability Policy at Consumer Reports, will testify on Thursday, September 29, 2022, at a hearing held by the House Select Committee on the Climate Crisis. The hearing is entitled “A Big Climate Deal: Lowering Costs, Creating Jobs, and Reducing Pollution with the Inflation Reduction Act.” At the hearing, Dr. Warren will discuss how the Inflation Reduction Act (IRA) will help consumers save money on fuel and electricity costs by encouraging the adoption of clean vehicles and electric appliances, particularly in overburdened communities. Notably, the consumer incentives for new and used electric vehicles (EVs) could lead to a more affordable, equitable, and clean transportation future.
“This year, CR conducted our largest ever nationally representative consumer survey on battery electric vehicles and low carbon fuels,” said Dr. Quinta Warren, Associate Director of Sustainability Policy at Consumer Reports. “We found that consumers are increasingly interested in purchasing EVs, but barriers remain, including costs involved in purchasing a vehicle. The IRA could make an enormous difference in overcoming this barrier by helping consumers save thousands of dollars on the cost of an EV, and giving greater access to clean, cost-saving technology for consumers who have not traditionally benefited from these incentives.”
A recent nationally-representative CR survey found that 71% of Americans express some level of interest in buying or leasing an electric-only vehicle. The survey also found Americans said one of the top barriers to getting an EV was the costs to buy, own, and maintain an EV. Nonetheless, 53% of Americans said tax rebates or discounts at the time of purchase would encourage them to get an EV.
The Inflation Reduction Act contains incentives that would reduce the cost of some EVs, providing consumers with more options to purchase clean vehicles. A CR analysis shows that when switching from a gas-powered car to an EV, fuel savings alone can be $4,700 or more over the first seven years. In addition, thanks to lower maintenance and repair costs, the typical EV owner saves between $6,000 to $10,000 over the lifetime of the vehicle.
The hearing will be live-streamed on Thursday at 12:45 p.m. ET. For more information, and to view the hearing, you can visit the House Select Committee on the Climate Crisis website here.
Media contact: Emily Akpan, emily.akpan@consumer.org
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Founded in 1936, Consumer Reports (CR) is an independent, nonprofit and nonpartisan organization that works with consumers to create a fair and just marketplace. Known for its rigorous testing and ratings of products, CR advocates for laws and company practices that put consumers first. CR is dedicated to amplifying the voices of consumers to promote safety, digital rights, financial fairness, and sustainability. The organization surveys millions of Americans every year, reports extensively on the challenges and opportunities for today’s consumers, and provides ad-free content and tools to 6 million members across the U.S.