briefs for Wednesday
WASHINGTON – The U.S. government’s deficit for the first nine months of this budget year hit $2.24 trillion, keeping the country on track for its second-biggest shortfall in history.
In its monthly budget report, the Treasury Department said Tuesday that the deficit for the budget year that ends in September is running 9.1% below last year’s pace.
The deficit for the full 2020 fiscal year was a record $3.1 trillion. The Congressional Budget Office is projecting that this year’s deficit will total a slightly smaller $3 trillion.
The deficits in both years were bloated by the multitrillion-dollar spending packages the government has passed to combat the economic downturns caused by the coronavirus pandemic.
Before the coronavirus pandemic, the previous deficit record was $1.4 trillion, set in 2009 when the government was seeking to offset a steep economic downturn triggered by the 2008 financial crisis.
Electrify America doubles stations
So far this fiscal year, government receipts have totaled $3.06 trillion, up 35.2% from the same period a year ago.
SILVER SPRING, Md. – Electrify America, an electric vehicle charging network funded with money paid by Volkswagen as punishment for its emissions cheating scandal, says it plans to more than double its number of charging stations throughout the United States and Canada.
The expansion will include 1,800 fast-charging stations and 10,000 individual chargers to be installed by 2025 and is part of Electrify America’s previous commitment to invest $2 billion over 10 years on EV infrastructure, education and access in the U.S.
Automakers have ramped up production of electric vehicles that can go farther and charge faster, but are concerned that consumers interested in EVs may wait to buy until there’s better, faster charging infrastructure.
The latest generation of EVs, many with ranges around 300 miles per charge, can accept electricity at a much faster rate than previous models could, but most charging stations can’t keep up with the vehicles’ advanced technology.
There are about 42,000 public charging stations in the U.S., but only about 5,000 are considered direct-current fast chargers, according to the Department of Energy.
The rest require roughly eight hours to fully charge longer-range batteries.
From wire reports