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The proposal is divided into three components. The first focuses on discounts for consumers who trade in gas burning cars for electric cars. Schumer predicts that this would remove 63 million gas burning cars from the road by 2030. The second part of the proposal seeks to make electric charging stations accessible everywhere with a particular focus on rural, low-income, and underserved communities. The third part asserts that the US should be the world leader on electric car and battery production and notes that a significant amount of grant dollars will be available to retool existing manufacturing sites and to advance research in improving electric car and battery technology.
I like this proposal, but there have been some critiques of it. For example, this post notes that we should be investing into mass transit instead of car culture. The piece provides lots of good examples why we should stop funding car-based initiatives.
Regardless of your opinion of Schumer's proposal, nothing will happen with it until after the 2020 election. As he points out in his piece, Schumer will only bring the proposal forward if the Democrats win the Senate.