Biden Administration Rushes to Save $283M in EV Charger Funding
The Biden administration is racing against time to ensure that recipients of federal funding for electric vehicle (EV) charging stations spend their money before it expires on Tuesday. Around $283 million from the first wave of a $2..5 billion program is at risk of being lost if recipients fail to sign contracts by the end of the fiscal year.
The funding, part of the Infrastructure Investment and Jobs Act signed into law in November 2021, aims to deploy EV chargers nationwide. However, about 30 recipients may not meet the deadline due to challenges stemming from when President Trump partially paused the program. The search for specific information about these recipients has so far been unsuccessful.
Grant recipients are required to sign contracts agreeing to spend their allocated funds by the end of the fiscal year. Failure to do so could result in the funding expiring and being redistributed.
With the deadline looming, the Biden administration is working to ensure that the funding is used as intended. The expiring funds highlight the importance of timely and efficient allocation and use of federal resources for infrastructure projects.
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