(DCNF)—The Biden administration’s well-funded push to build out a national network of electric vehicle (EV) chargers has so far resulted in only a handful of installations, according to The Washington Post.
The bipartisan infrastructure bill of 2021 allotted $7.5 billion to subsidize thousands of EV chargers to help the administration’s goal of having EVs constitute 50% of all new cars sold in 2030, but only seven stations in total have been built in four states to date, according to the Post. The slow rollout of the EV charger funding is unfolding as the Biden administration has recently issued stringent emissions standards for light-, medium- and heavy-duty vehicles that will result in significant increases of EV sales for all three classes of vehicle.
Two years after the infrastructure bill became law, it has so far been responsible for just 38 operational individual charging spots across the U.S., according to the Post. The open stations are located in Pennsylvania, Ohio, New York and Hawaii, and construction of more stations is underway in four other states.
Morgan Stanley Throws Cold Water On Biden’s Lofty EV Targets https://t.co/Q0xdRxq6Pf
— Daily Caller (@DailyCaller) February 7, 2024
“I think a lot of people who are watching this are getting concerned about the timeline,” Alexander Laska, the deputy director for transportation and innovation at the Third Way, a left-of-center think tank, told the Post.
Twelve states have given out contracts for building charging stations, while 17 states have yet to release proposals, according to the Post. Nationally, EV charging infrastructure remains generally concentrated in more densely-populated coastal areas, according to the Department of Energy (DOE).
Building out a massive web of chargers is a key pillar of the administration’s EV agenda, in part because doing so would ostensibly help assuage the “range anxiety” of drivers who worry about their EV’s ability to make it to destinations without taking risks on charger accessibility, according to the Post. Nearly 20% of all EV drivers indicated that they did not charge their car when they visited a charging station, either because the charger was not working or because the line to use it was too long, according to a 2023 study conducted by JD Power.
Several logistical challenges are apparently responsible for the sluggish rollout, including requirements that subsidized charging stations are built within one mile of an interstate roadway, operate at least 97% of the time and that each charger provides 150 kilowatts of power, according to the Post. The permitting process has also posed problems, especially for projects in remote areas where utility providers may not be prepared to accommodate significant increases in electricity demand that the chargers will bring.
“This funding comes with dozens of rules and requirements,” Laska told the Post. “That is the nature of what we are trying to accomplish.”
Of the $7.5 billion for EV charging contained in the infrastructure package, $5 billion was made available for individual states to access via the National Electric Vehicle Infrastructure (NEVI) program, according to the Post. House Republicans wrote a February letter to top Biden administration officials requesting information and explanations regarding the slow rollouts of NEVI and the related Charging and Fueling Infrastructure grant program.
The White House, the DOE and the Department of Transportation did not respond immediately to requests for comment.
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Why the National Debt Is the Looming Threat to Your Retirement Plans
The Hidden Crisis No One Is Talking About
Every day, headlines warn about inflation, market volatility, and global instability—but the greatest looming threat to your retirement might be something far more fundamental: America’s skyrocketing national debt.
You can learn more about how the national debt affects you by reading this 3-minute report titled, “Debt Will Hit $40T in 2026: Prepare Your Retirement Now“.
With debt growing faster than most Americans can possibly fathom, the government’s borrowing habits have reached historic—and dangerous—levels. To cover spending, Washington is making moves with their budget packages, tariffs, and taxes. Is it enough? No. It’s not even close to what would be necessary to stop out-of-control debt, let alone reverse it.
How Debt Erodes Your Nest Egg
There are only so many levers government and the Federal Reserve can pull to try to protect Americans, assuming that’s even a top priority for them. Unfortunately, pulling one level to relive one pressure invariably adds pressure from another direction. This is why prices keep going up even as inflation reportedly slows.
For retirees and pre-retirees, that’s a perfect storm. The dollars you’ve worked hard to save lose value, and your cost of living increases while your investments lag behind.
If you’re relying solely on paper-based assets—stocks, bonds, or mutual funds—you’re essentially tied to the same system that’s creating the problem. It’s a system that was designed to work well in the 20th century, not in today’s world with people living longer and the dollar rapidly losing value.
This is why the 3-minute report, “Debt Will Hit $40T in 2026: Prepare Your Retirement Now,” is so important.
The Precious Metals Hedge
Thousands of Americans are looking for a tangible, time-tested hedge: physical gold and silver.
Unlike paper assets, precious metals aren’t dependent on government policy or the stock market’s mood swings. They’re real, finite resources that have maintained value for thousands of years through wars, recessions, and inflationary periods.
In fact, during times of high inflation and fiscal instability, gold often performs its best—because it’s seen as a store of value when faith in the dollar weakens. This is why prices have skyrocketed this year and are expected by many economists to continue going up in the future.
Take Control with a Gold IRA
One of the most effective ways to protect your retirement from national debt fallout is through a self-directed Gold IRA. This IRS-approved account lets you hold physical gold and silver within your retirement portfolio, giving you:
- Direct ownership of your assets
- A hedge against inflation and dollar decline
- The control to diversify beyond Wall Street
Augusta Precious Metals specializes in helping Americans just like you take this step with confidence. The company has earned a strong reputation for transparency, education, and personalized service—making it one of the most trusted names in the industry.
The Next Step: Secure Your Financial Future
Augusta Precious Metals has helped thousands of Americans with at least $50,000 to invest from their IRAs, 401(K)s, TSPs, and other retirement accounts safeguard their savings through precious metals.
If you’re concerned about what the rising national debt could mean for your future, now is the time to act.
Read this 3-minute report titled, “Debt Will Hit $40T in 2026: Prepare Your Retirement Now“ and learn the simple steps you can take to protect your retirement.
