Bill · S. 536· Senate(119-S-536)
Fair SHARE Act of 2025
- Introduced
- 2/12/2025
- Last activity
- 2/12/2025 — Read twice and referred to the Committee on Finance.
- Sponsored by
- Deb Fischer
- Cosponsors
- - 2 - 0
- Introduced
- In Committee
What this bill would do
This bill, known as the "Fair SHARE Act of 2025," proposes amendments to the Internal Revenue Code of 1986. It seeks to establish a new tax on the sale of certain electric vehicles and batteries. Specifically, a $550 tax would be applied to battery modules weighing more than 1,000 pounds intended for electric vehicles. Additionally, a $1,000 tax would be imposed on the sale of electric vehicles. The revenue generated from these taxes would be transferred to the Highway Trust Fund. These changes are intended to take effect for sales occurring after December 31, 2025.
Yes
Does this repair or build roads and bridges?+3
The revenue from the new tax is directed specifically to the Highway Trust Fund to support infrastructure.
Does this give the federal government more power?+1
The bill expands the scope of the Internal Revenue Code via new federal excise taxes.
The opposite· 3 of 6
Would business owners be better off under this?-3
Manufacturers and importers face new tax liabilities under this act.
Does this raise the taxes companies pay?-3
The bill imposes new excise taxes on manufacturers, producers, and importers of electric vehicles and batteries.
Would households on low incomes be better off under this?-2
Higher costs for electric vehicles may disproportionately impact lower-income consumers looking for fuel-efficient options.
Who it would affect, and how
Potential Positive Impacts for People
- Funding for Infrastructure: The bill directs the revenue collected from the new taxes to the Highway Trust Fund (Section 2(b)).
Potential Negative Impacts for People
-
Increased Cost of Battery Modules: A tax of $550 will be imposed on each battery module that weighs more than 1,000 pounds and is intended for use in an electric vehicle (Section 2(a)(1)).
-
Increased Cost of Electric Vehicles: A tax of $1,000 will be imposed on each electric vehicle sold by a manufacturer, producer, or importer (Section 2(a)(2)).
Groups and Interests Ranking
Every group the model scored this bill for, from -10 to +10. Hover a score for the reason it gave.
- Demographic And Interest Groups
- Good For Business Owners-3Good For Low Income Households-2Good For Middle Class Households-1
- Economy And Finance
- Increases Corporate Taxes-3Improves Consumer Protection-2
- Environment Energy And Infrastructure
- Improves Roads And Bridges+3Reduces Carbon Emissions-2
- Governance And Ideology
- Increases Federal Power+1
- 2/12/2025
- Read twice and referred to the Committee on Finance.
- 2 Cosponsors added.
- Introduced in Senate
One bill Congress.gov lists as related to this one — companions in the other chamber, earlier versions, and bills this one absorbed or was folded into.
Cynthia LummisRepublican · Wyoming
Pete RickettsRepublican · Nebraska