S. 536 — Fair SHARE Act of 2025

This bill imposes a new excise tax in the amount of $1,000 on the sale of an electric vehicle and a new excise tax in the amount of $550 on the sale of a battery module weighing over 1,000 pounds for use in an electric vehicle. The bill also requires the Department of the Treasury to transfer amounts collected from the new excise taxes to the Highway Trust Fund. (The Highway Trust Fund, which supports surface transportation programs and projects, is funded by transportation-related excise taxes.) The bill defines electric vehicle as a light-duty vehicle (a motor vehicle weighing less than 8,500 pounds that is manufactured for use on public roads) that is powered by a battery with a capacity...