The Congressional Budget Office (CBO) has released a cost analysis of the AM Radio for Every Vehicle Act of 2023, which would require AM broadcast radio stations to be accessible in all passenger motor vehicles sold in the U.S.
The bill was introduced earlier this summer after several car manufacturers announced they would no longer offer AM radio in their electric vehicles, and some gas-powered vehicles as well.
The CBO estimates that implementing the bill would cost the Department of Transportation and Government Accountability Office a total of $1 million over the 2024-28 period. The agency also estimates manufacturers would be required to update media equipment and infotainment software in about 2.5 million to 3 million electric vehicles per year.
“Because the unit costs of those updates are small, CBO estimates the total cost of the mandate would be several millions of dollars each year the requirement is in effect and would not exceed the annual threshold established in UMRA for private-sector mandates,” the report read.
