Washington, D.C. — In 2022, President Joe Biden signed into law the Inflation Reduction Act, which provides new incentives to scale up U.S. production of electric vehicles (EVs) and the batteries needed to operate them. In recent years, American and foreign automakers have announced at least 111 projects in two dozen states. A new CAP Action analysis finds that more than 50 percent of EV and battery investment funds announced in recent years will be located in areas with large Black populations.
To date, American and foreign automakers have announced nearly $129 billion in EV and battery investments, according to the Center for American Progress’ “Biden Administration Investment Tracker.” Of the roughly $129 billion in private investments, $65 billion are in areas where at least one congressional district has a Black population that is at or exceeds the national average. Black Americans could uniquely benefit from the influx of new, good-paying jobs and the broader economic activity these investments will create.
“By spurring economic development in communities of color alongside outreach and skills training, the Biden administration is not only making good on its promise to advance justice but also enhancing the economic future of all workers,” said Mariam Rashid, associate director of Racial Equity and Justice at CAP Action. “Injecting money into communities of color alone won’t solve all racial and ethnic disparities, but this analysis shows that the government can be a force for good in creating an economy that works for all.”
Read the column: “Biden Administration’s New Investments in Electric Vehicle and Battery Production Could Benefit Black Americans” by Colin Seeberger and Mariam Rashid
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