Paris votes to triple SUV parking fees – and this includes electric ones
Parisians have voted to triple the parking costs for SUVs – including heavier electric ones and hybrids. This Sunday, the city held a referendum, with Parisians voting 56.6% in favor of increased parking fees.
While the narrow, traffic-clogged streets of Paris seem a better fit for the likes of the nimble Twingo, city officials say that the number of SUVs in the city has increased by 60% over the last four years. SUVs account for 15% of the 1.15 million private vehicles parked on Paris streets every night.
Paris Mayor Anne Hidalgo sees the move to curb SUVs in the city as “a form of social justice,” with road safety and air pollution the main targets of the vote. She said that the vote had one particular driver in mind: rich drivers of the heaviest, most expensive, and polluting cars on the street who, essentially, need to wake up and see how their choices affect the rest of the city – with the caveat that only out-of-towners will be affected by the price hike. Still, officials say that some 10% of the vehicles parked in Paris will see increased parking fees, which could bring in up to €35 million, reports Le Monde.
“Parisians have made a clear choice… other cities will follow,” Hidalgo added. Lyon, France’s third largest city and run by the Green Party, has devised its own progressive parking fee system designed to target SUVs, with Grenoble looking on. London Mayor Sadiq Khan has said that he too is paying attention to the Paris vote, The Guardian reports.
The new fees could come into force at the beginning of September, with on-street parking for an SUV raised to €18 (about $19) an hour in the center of Paris and €12 (about $13) in the rest of the city.
The price hikes applies to ICE or hybrid SUVs weighing more than 1.6 tonnes (about 3,500 pounds), and electric SUVs weighing more than 2 tonnes, or 4,000 pounds. Paris residents will not have to pay extra. People working in Paris, taxi drivers, tradespeople, health workers, and people with disabilities will all be exempt.
Last year, Paris held a similar referendum that voted to ban electric scooter rental services, the first and only European capital to do so. Of course, the turnout for the vote was only 103,000 people, or 7% of registered voters. The SUV referendum, which was held Sunday, February 4, garnered even fewer votes, with 78,121 people, or 5.7% of registered voters, Le Monde reports. Still, while not many people ventured out on to cast their vote, Le Parisien ran an Opionway poll this month that found 61% of city residents backed the plan to hike frees for SUVs.
The socialist mayor has put front and center a reduction in car usage while simultaneously boosting eco-friendly transport in the city. SUVs – which are taller, heavier, and deadlier and use more energy and resources than a typical sedan – account for almost half of all new passenger cars sold in Europe last year, according to the European Automobile Manufacturers Association. A pedestrian is twice as likely to die in a collision with an SUV than a standard vehicle, Hidalgo stated.
She has made big moves in expanding bike lanes by reducing parking spaces. In the past few years since the coronavirus lockdowns, there has been a 71% rise in the use of bikes in the city. Of course, I wished I’d see more helmets on heads here – because even with more bike lanes, Paris traffic is intense, with bikes lane sometimes merging in and out of traffic lanes.
Regardless, Hidalgo is hoping automakers will get the message, that there is no place for huge, bulky, polluting SUVs in a city like Paris. “With this vote, we want to say stop,” she has said. “Stop the excesses of carmakers, who are pushing people to buy ever bigger, more expensive, more raw-material-intensive, more polluting vehicles.”
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AI and Crypto Czar David Sacks speaks with President Donald J Trump as he signs executive orders in the Oval Office at the White House on Jan. 23, 2025 in Washington, DC.
Jabin Botsford | The Washington Post | Getty Images
As David Sacks, the newly appointed White House AI and crypto czar, collaborates with lawmakers on potential regulations for digital assets, one of the first things they’ll be focused on is stablecoins.
“They are very committed to moving legislation through the House and the Senate this year in order to provide that clear regulatory framework that the digital assets ecosystem needs to sustain innovation in the United States,” Sacks said on CNBC’s “Closing Bell Over Time” on Tuesday. “Moving legislation through Congress takes time, but I think this is something we could do in the next six months.”
Earlier in the day, Sacks joined leaders of the House and Senate committees for banking and finance for a press conference to talk about their early objectives for crypto policy, with the help of the SEC. It was part of a busy day in Washington for regulators and key players on Capitol Hill and in Trump’s White House to announce next steps in their digital currency plans.
“I look forward to working with each of you in creating a golden age in digital assets,” Sacks said at the press event.
He was flanked by Sen. Tim Scott (R-S.C.), chairman of the Senate Banking committee, Rep. French Hill (R-Ark.), chair of the House Financial Services Committee, and Sen. John Boozman (R-Ark.), who heads the Senate Agriculture Committee.
The leaders said their first priority is supporting a stablecoin bill introduced by Sen. Bill Hagerty (R-Tenn.), who has proposed new rules for stablecoins to create a “clear regulatory framework” for their use. Stablecoins are a type of cryptocurrency whose value is pegged to a real-world asset, such as the U.S. dollar.
Stablecoins have been gaining popularity but mostly overseas. Lawmakers are now promoting U.S.-based stablecoin issuance, reinforcing the dollar’s dominance through digital finance. Supporters like Sacks say such a move could drive trillions of dollars in new demand for the dollar and help lower long-term interest rates.
David Sacks, U.S. President Donald Trump’s AI and Crypto Czar, listens to President Trump signs a series of executive orders in the Oval Office of the White House on January 23, 2025 in Washington, DC.
Anna Moneymaker | Getty Images
Sacks on Tuesday told CNBC that a top agenda item for his new task force is evaluating “the feasibility of a bitcoin reserve,” an idea President Donald Trump suggested during his campaign. Sacks noted that the president asked his digital assets working group to study “whether it’s feasible to create either a bitcoin reserve or some sort of digital asset stockpile.” He clarified that they “haven’t committed yet to doing it, but it’s one of the first things” they’ll be considering.
Also on Tuesday, the SEC made a major shift in its approach to digital asset regulation. Under new leadership, the agency announced it would open its doors to meetings with anyone interested in discussing crypto, an effort to show a clear contrast to former SEC Chair Gary Gensler, who emerged as an antagonist to the industry.
SEC Commissioner Hester Peirce, now leading the agency’s newly established Crypto Task Force, published a statement titled The Journey Begins. She said the idea is to create more transparent and predictable regulations, removing legal ambiguity and unnecessary roadblocks.
“The Task Force is working to help create a regulatory framework that both achieves the Commission’s important regulatory objectives — including protecting investors — and preserves industry’s ability to offer products and services,” Peirce wrote.
Priorities include clarifying which crypto assets fall under securities laws, crafting a path for token issuers to gain regulatory approval and ensuring compliance measures don’t stifle innovation. The group will also examine crypto lending, staking, exchange-traded products, and cross-border regulations. Peirce stressed that while the SEC aims to foster industry growth, it will not tolerate fraud.
The SEC said it’s actively soliciting input from the public. Firms and individuals can submit written feedback or request meetings with the task force.
Tuesday’s press conference was the first major policy event led by Sacks, who was named to the post in December. While he lacks direct control over regulatory agencies or congressional funding, Sacks’ close ties to the White House and Elon Musk have positioned him as a key figure in the administration.
In June, Sacks, previously a Trump critic, hosted a fundraiser at his Pacific Heights mansion that raised $12 million for the Republican leader’s presidential campaign.
Sacks was in Washington, D.C., for the inauguration last month and attended the Crypto Ball, surrounded by industry leaders and policymakers. He declared at the event that, “The war on crypto is over.” During Trump’s first week in office, Sacks stood alongside the president in the Oval Office as he signed an executive order on digital assets.
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