Unplug the Electric Vehicle Charging Stations Program Act

HR1513, the 'Unplug the Electric Vehicle Charging Stations Program Act,' was referred to the Subcommittee on Highways and Transit on February 21, 2025. This bill explicitly aims to cease federal funding for electric vehicle charging stations. This action directly reverses the current federal policy that supports the expansion of EV charging infrastructure. The immediate impact is a halt to new federal grants and programs designed to build out the national EV charging network. The money trail for EV charging infrastructure primarily flows through federal grants and tax credits, which this bill eliminates. Companies like EVgo ($EVGO), ChargePoint ($CHPT), and Blink Charging ($BLNK) rely on these incentives to expand their networks and attract customers. Without federal support, the capital available for new charging station deployments significantly decreases. This directly impacts their revenue streams and growth projections. EV manufacturers such as Tesla ($TSLA), General Motors ($GM), and Ford ($F) also face headwinds, as a less robust charging infrastructure reduces consumer confidence and slows EV adoption rates. Historically, federal support has been critical for nascent infrastructure. For example, the Infrastructure Investment and Jobs Act (IIJA) of 2021 allocated $7.5 billion for EV charging infrastructure. Following this, companies like ChargePoint ($CHPT) saw a 15% increase in their stock price in the month after the bill's passage, and EVgo ($EVGO) gained 12%. Conversely, the elimination of such funding will likely trigger a similar magnitude of negative market reaction. The bill's sponsor, Rep. Tony Wied (R-WI), is a junior member, which suggests lower initial legislative momentum, but the presence of 10 cosponsors indicates some level of support. Specific winners are non-existent under this bill, as it defunds an existing program. The clear losers are EV charging network operators: EVgo ($EVGO), ChargePoint ($CHPT), and Blink Charging ($BLNK) will see reduced opportunities for expansion and lower revenue growth. EV manufacturers like Tesla ($TSLA), General Motors ($GM), and Ford ($F) will experience slower EV sales growth due to reduced charging infrastructure availability. The next step is for the Subcommittee on Highways and Transit to consider the bill. If it advances, it will move to the full Transportation and Infrastructure Committee.