Proposition 30 would raise taxes on the wealthy, to the tune of an estimated $3.5 billion to $5 billion in annual revenue. Eighty percent of the money would be used to subsidize electric cars and charging stations, with the rest going to wildfire safety.
RMI’s analysis, shared exclusively with The Times, finds the ballot measure would be especially good for low- and middle-income Californians — those least able to afford electric cars. New financial incentives could make electric vehicles as affordable as used gas cars, RMI found, helping more than 1 million non-rich Californians ditch oil by 2030. There would be enough money left over to install almost 95% of the charging stations California will need at apartment buildings and condos by 2030.
It’s important to understand how big a role cars and trucks play in fueling hotter heat waves, more extreme droughts and larger wildfires — not to mention deadly air pollution. Transportation accounts for roughly 40% of California’s planet-warming emissions. State officials expect we’ll need 8 million electric cars on the road by 2030, up from about 1 million today.