Funding for electric school buses still possible
The Biden administration on Wednesday said it will provide funding to help school districts purchase clean school buses, most of them electric. Shown is a yellow electric school bus plugged into a charging station. (Photo by TW Farlow / Getty Images)
A proposal to provide local school districts access to funds for electric school buses stalled in the Legislature, but money may still be available through the state budget.
House Bill 32, which would have allowed school districts to replace traditional diesel school buses with electric or alternative fuel buses using funds from the Public Education Department, passed two House committees in February but has yet to be scheduled for a floor vote.
However, President Pro Tempore Mimi Stewart (D-Albuquerque) carried Senate Bill 48, which would establish a community benefit fund for projects that would help reduce emissions and address the state's climate change goals. Those projects include purchasing electric vehicles and related charging infrastructure for public entities — a category that includes public schools. SB48 passed and awaits Gov. Michelle Lujan Grisham's signature.
As such, funding for electric school buses was added to the state budget in House Bill 2.
According to the March 18 Senate Finance Committee report, $60 million will be allocated to the Public School Facilities Authority for electric vehicle charging infrastructure for local school districts. The report specifies that the funds are contingent on SB48 passing and can be used for upgrading diesel fuel school buses to ESBs between Fiscal Years 2026 and 2028.
Shelley Mann-Lev, executive director for advocacy organization Healthy Climate NM, one of several advocacy groups to back the original bill, told Source NM that the addition to the state budget is 'an excellent step' toward getting more ESBs on the road and upgrading public school bus fleets.
According to the fiscal impact report for HB32, diesel school buses cost an average of $420,000 while diesel school buses cost about $103,000 – electric charging infrastructure costs between $16,000 and $46,000. More than 100 ESBs could be purchased with $60 million at these average prices.
Mann-Lev added that vehicle-to-grid, an agreement companies or agencies enter into with local electric utilities to sell back excess power, is not approved for school districts at this point. Advocates originally pointed to vehicle-to-grid as another option to offset the high cost of electric buses.
The state budget was passed by the Senate Wednesday afternoon and awaits a concurrence vote from the Senate.
SUBSCRIBE: GET THE MORNING HEADLINES DELIVERED TO YOUR INBOX
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Yahoo
12 minutes ago
- Yahoo
Cuts to Medicaid for Ohioans with disabilities could take away home care and job help
(iStock / Getty Images Plus) As the Ohio Senate moves forward with its budget proposal, advocates for Medicaid are hoping changes can be made to avoid significant impacts to low income residents, elderly Ohioans, and people with disabilities. Funding from Medicaid allows 3 million Ohioans access to health care services, including more than 770,000 who receive them through the Medicaid expansion program instituted in 2014. That expansion program allows people who weren't eligible for the traditional Medicaid programs but were still in categories of need to access health care. The existence of that program dropped the uninsured rate in Ohio to historic levels, according to the Health Policy Institute of Ohio. Along with health care, Medicaid dollars help with services that aren't necessarily connected to medical treatment, like home care, employment help, transportation, and a direct care provider who helps with all of those things. 'In many cases, if there wasn't Medicaid dollars behind it, I know of many people whose ability to live outside of a hospital or in the community would be threatened,' said Jules Patalita, a disability rights advocate for Sylvania-based The Ability Center. So advocates were disappointed to see the Ohio Senate maintain a provision from both the Ohio House's and Gov. Mike DeWine's budget proposals that would eliminate the Medicaid expansion group if the federal government reduces their level of support (currently at 90%) by even 1%. 'This would be a substantial loss for many working Ohioans,' said Kathryn Poe, researcher for the think tank Policy Matters Ohio. SUBSCRIBE: GET THE MORNING HEADLINES DELIVERED TO YOUR INBOX Also included in the Senate's budget proposal is the elimination of a Medicaid waiver that 'would have provided continuous coverage for kids up to age 3,' Poe said, and a separate section of the budget that would 'allow the state to pause, eliminate or change other funds related to all other federal grants, should Congress adjust or eliminate funding for that program.' Poe did praise the Senate proposal for removing a House-submitted provision limiting Medicaid reimbursement for doulas to only six Ohio counties. 'This will ensure that Ohio parents continue to have access to culturally appropriate birthing resources and management,' Poe said. Concerns about loss of access don't just extend to physical health concerns or daily home services, but also to behavioral health services, on which 47% of Ohio adults on Medicaid rely, according to Kerstin Sjoberg, president and CEO of Disability Rights Ohio. 'If you don't have access to some sort of insurance like Medicaid, it's going to be almost impossible to get those services,' Sjoberg said. The state-level discussions come as federal budget reconciliation also touches on Medicaid funding as the Trump administration and Republicans in Congress attempt to slash federal spending by $880 billion over the next decade, particularly from public assistance programs like the Supplemental Nutrition Assistance Program (SNAP) and Medicaid. U.S. House Speaker Mike Johnson and other leaders have talked about 'abuse' or 'fraud' as sources of revenue loss for the country in public programs, something those who engage with users of programs like Medicaid push back on. 'In reality, Medicaid is one of the most cost-effective and widely used safety nets in the country,' said the advocacy group Innovation Ohio in a call-to-action email over the congressional budget proposals. 'If this bill becomes law, the result will be fewer people with health care, more families pushed into poverty and deeper inequality. Rural hospitals could shut down.' According to a study by the Commonwealth Fund, Ohio could be one of the hardest hit economies if Medicaid cuts at the federal level come to fruition, cuts that could mean 29% more Medicaid spending by states or cuts to other programs, like education, to offset the Medicaid losses. One thing that will have to be addressed whether or not the cuts are realized in the state and federal budgets is the workforce that helps those who use Medicaid for home care and other services. Patalita said the word 'crisis' has been used in talking about the shortage of direct care providers, similar to the shortage of child care workers needed to provide adequate access to that service. 'We've talked to people who have had to wait weeks to be able to receive services in the home, because there just aren't enough providers out there,' Patalita said. The Ability Center did a study after the previous state budget increased the reimbursement rate for direct care providers under the state Medicaid program. That study showed that while reimbursements rates and, for that matter, provider wages should go up, the solution to the shortage problem wouldn't come with just one answer. 'The direct care crisis is too complex of an issue for a single action to remedy,' The Ability Center found. The study identified three 'major elements' of the shortage: high turnover rates, low hourly wages (lower than 'many entry level positions in retail and food service,' according to the study), and a lack of consistency in benefits. 'This failure by agencies to provide benefits adds to the worker shortage and forces those requiring home care to carry the burden of decreased access to care, especially those in rural areas,' the study found. Eliminating Medicaid funding, including the expansion group, will make life harder for those Ohioans who need the services, Sjoberg said, 'but it will also make it necessary that the direct care workforce is supported in other ways.' SUPPORT: YOU MAKE OUR WORK POSSIBLE
Yahoo
17 minutes ago
- Yahoo
Illinois Senate President Don Harmon faces potential $9.8 million fine for improperly accepting campaign cash
State election officials have informed Senate President Don Harmon that he will face more than $9.8 million in penalties pending an appeal of a case alleging he broke an Illinois election law designed to rein in big money in political campaigns. The calculation of the potential penalty emerged only days after the Oak Park Democrat attempted to pass legislation designed to wipe away the election board case and the potential penalties, a maneuver stymied amid bipartisan backlash only hours before the spring session adjourned early June 1. The developments take on an added political dimension because of the looming federal sentencing on Friday of former Democratic House Speaker Michael Madigan in the bribery-related ComEd scandal. In a letter dated June 5, the Illinois State Board of Elections told Harmon's campaign committee it must pay more than $9.8 million within 30 days unless an appeal is filed. The Harmon campaign has already filed a notification that it plans to appeal, and Harmon has said he 'fully complied with the law.' On Tuesday, Harmon's political spokesman, Tom Bowen, said Harmon has supported every campaign finance reform that has passed the legislature and has 'always prioritized the highest ethical standards.' 'Our committee has filed a response to the Board of Elections that we do not agree with their assessment,' Bowen said in an emailed statement. 'We look forward to our opportunity to resolve this matter.' Following a Tribune inquiry about Harmon's fundraising, election board officials notified Harmon in March that he had accepted more than $4 million in campaign contributions over the amount allowed under campaign finance restrictions he championed years ago that limit the size of political contributions. The board arrived at the $9.8 million figure based on two provisions in the law. The first would require Harmon's political fund to send to the state's operating fund an amount equal to the more than $4 million his campaign fund collected over the limit. The board also computed a nearly $5.8 million fine based on 150% of the amount the board determined Harmon overcollected. The board said it took into account a provision in the law that allowed for a couple of reductions for the first two violations among the dozens of excessive contributions in question. It's still uncertain how precarious this situation is for Harmon and his campaign fund. Politicians frequently challenge the board, and negotiations can result in final fines that are a fraction of the potential fine. If Harmon wins the appeal, he could wind up paying nothing. In a Tribune interview last week, Harmon also defended his eleventh-hour attempt to change state law with a clause that could have eliminated his elections board dispute and potential fine. He said the language he sought to insert in the statute was 'existing law' and his measure was an effort to clarify the issue. But that is Harmon's interpretation of 'existing law,' not that of elections board officials. At the heart of the disagreement between Harmon and election officials is a loophole in state campaign finance law. It allows politicians to collect contributions above state limits if any candidate in the race in which they are running — themselves or an opponent — reports reaching a 'self-funding threshold' in which they have given or loaned their campaign funds more than $250,000 for statewide races and more than $100,000 in races for the state legislature or local offices. In 2023, Harmon gave his state Senate campaign committee more than $100,000 to open the loophole for the 2024 campaign season, even though he was not running for office last year. In campaign paperwork, Harmon indicated he thought the move allowed him to collect unlimited cash through the November 2024 election cycle. But board officials informed him that the loophole would only be open through the March 2024 primary, meaning they viewed the campaign cash Harmon collected above campaign restrictions between March and the end of the year was not allowed.
Yahoo
18 minutes ago
- Yahoo
4 Reasons to Buy Bitcoin Before 2028
Bitcoin's price could rally higher ahead of its next halving in 2028. Declining interest rates and a weak dollar could support its growth. More institutional investors could view the cryptocurrency as a safe-haven asset. 10 stocks we like better than Bitcoin › Bitcoin's (CRYPTO: BTC) price has risen nearly 240% over the past three years, even as rising rates and the implosions of several big tokens and exchanges chilled the crypto market. Bitcoin survived that sell-off, which wiped out many of the smaller altcoins and meme coins, and it emerged as the safest "blue chip" cryptocurrency to invest in. In 2024, Bitcoin's first spot price ETFs were approved, and its latest "halving" reduced its mining rewards. President Trump's victory in November also drove many investors back toward Bitcoin, since his administration adopted more crypto-friendly policies than the Biden administration. President Trump also ordered the establishment of a Strategic Bitcoin Reserve and a U.S. Digital Asset Stockpile this March, while declining interest rates generated additional tailwinds for the broader crypto market. As Bitcoin hovers above $100,000 and trades just a few dollars below its record high, investors might be wondering if it's time to finally take profits. However, some big institutions and investors expect its price to surge even higher over the next three years. By 2028, Standard Chartered claims its price could soar to $500,000 as its volatility decreases and its ETFs lock in more investors, while Maelstrom's Arthur Hayes expects its price to surge to $1 million as the devaluation of the U.S. dollar drives investors toward more alternative assets. We should take those bullish estimates with a grain of salt, but I personally think it could be wise to buy Bitcoin before 2028 for four simple reasons. Bitcoin underwent four halvings in 2012, 2016, 2020, and 2024. Each time those rewards were cut in half, it became increasingly difficult to mine Bitcoin for a profit. Back in 2012, traditional desktop GPUs could still be used to mine Bitcoin. But today, miners need to use powerful application-specific integrated circuits (ASICs) instead of GPUs. Before its first halving, Bitcoin had a block reward of 50 tokens for each block they created. But after its four halvings, that "block reward cut" dropped to just 3.125 Bitcoins. The rising difficulty of mining Bitcoin will tighten its supply and slow down its production as it inches toward its maximum supply of 21 million Bitcoins. Approximately 19.7 million of those coins have already been mined, and the last one is expected to be mined in 2140. Bitcoin was trading at $63,800 right before its latest halving on April 19, 2024. It's risen nearly 70% since then, so it might be smart to load up on Bitcoin before its next four-year halving -- which is expected to occur in March or April 2028 and cut its block reward to just 1.5625 Bitcoins. Bitcoin's price slumped in 2022 and 2023 as rising rates drove investors away from cryptocurrencies and other speculative plays. But in 2024, its price stabilized and rose again as the Federal Reserve cut its benchmark rates three times. The Fed hasn't cut its interest rates again in 2025, but it's still expected to execute at least two rate cuts this year. As interest rates decline, Bitcoin's price should rise as more investors pivot back toward the crypto market. Declining interest rates should also weaken the U.S. dollar -- and that trend could cause more investors to stock up on Bitcoin, gold, and other "safe-haven" assets. Only two countries, El Salvador and Central African Republic, have adopted Bitcoin as a national currency so far. However, other nations facing severe inflation, currency devaluation issues, sanctions, and debt problems could follow their lead. If that happens, Bitcoin could gain more momentum as a global alternative to fiat currencies. Most institutional investors with exposure to Bitcoin only allocate low-single-digit percentages of their portfolios to the cryptocurrency. But that could shift over the next few years as traditional investment firms like Fidelity, Schwab, and BlackRock add more support for Bitcoin across the retail brokerages and retirement accounts. Assuming those institutional investors start allocating more than 5% of their portfolios to Bitcoin, its price could skyrocket and ignite another "fear of missing out" (FOMO) buying frenzy. If that happens, the market's leading Bitcoin ETFs should attract more institutional investors who don't want to deal with the risks of directly holding the cryptocurrency in a digital wallet. Other countries -- including the U.K., Australia, and major Asian markets -- could also approve their own spot price ETFs for Bitcoin. Bitcoin will remain volatile for the foreseeable future, and I'm not certain it can hit $500,000 or $1 million by 2028. But it should attract more attention from before its next halving, and there's still plenty of room for institutional investors to accumulate more Bitcoin. So if you can stomach its wild swings, it's still a great time to buy more Bitcoin. Before you buy stock in Bitcoin, consider this: The Motley Fool Stock Advisor analyst team just identified what they believe are the for investors to buy now… and Bitcoin wasn't one of them. The 10 stocks that made the cut could produce monster returns in the coming years. Consider when Netflix made this list on December 17, 2004... if you invested $1,000 at the time of our recommendation, you'd have $660,341!* Or when Nvidia made this list on April 15, 2005... if you invested $1,000 at the time of our recommendation, you'd have $874,192!* Now, it's worth noting Stock Advisor's total average return is 999% — a market-crushing outperformance compared to 173% for the S&P 500. Don't miss out on the latest top 10 list, available when you join . See the 10 stocks » *Stock Advisor returns as of June 9, 2025 Charles Schwab is an advertising partner of Motley Fool Money. Leo Sun has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Bitcoin. The Motley Fool recommends Charles Schwab and Standard Chartered Plc and recommends the following options: short June 2025 $85 calls on Charles Schwab. The Motley Fool has a disclosure policy. 4 Reasons to Buy Bitcoin Before 2028 was originally published by The Motley Fool Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
