85 F
College Station
Wednesday, June 23, 2021

Biden Electric-Vehicle Subsidies: A ‘Green’ Giveaway to the Rich

Local News

College Station Bans Traditional Pet Shops

At Thursday's meeting, the College Station city council passed an ordinance that prohibits the sale of non-rescue dogs and cats in pet...

College Station to Vote on ROO in Special Meeting Today

The College Station City Council meets Monday at 4 p.m. at city hall to consider a Restricted Occupancy Overlay (ROO). The ordinance would allow single-family...

College Station Plans on Borrowing Additional $62 Million Without Taxpayer Vote

The College Station City Council voted to begin the process of issuing $62 million in certificates of obligations for capital projects. The...

Brazos Valley Hospitalizations Continue to Decline After Mask Order Rescinded

Texas Governor Greg Abbott issued Executive Order GA-34 on March 2, 2021, and the order went into effect on March 10, 2021....

A woman gets into her Tesla car at a supercharger station in Los Angeles, Calif., in 2018. (Lucy Nicholson/Reuters) Have you ever seen a poor person driving a Tesla?

Regardless of party affiliation, few Americans support taxpayer subsidies for the rich and well-off. But if you look closely at his plans for electric vehicles, that’s exactly what President Biden is currently promoting.

The president included a whopping $174 billion for electric-vehicle subsidies in his $2 trillion “infrastructure” proposal. And in a recent speech, Biden argued that “the future of the auto industry is electric. . . . There’s no turning back.” He went on to insist that “we have to look forward. . . . That means new purchasing incentives for consumers to buy clean vehicles like the electric Ford 150 — a union-made product — right here in America.”

This vision of government-led innovation spurring a green-technology renaissance to the benefit of all sounds nice, at least at first glance. But the truth is Biden’s proposed “green” spending binge amounts to nothing more than a taxpayer-financed handout to environmentally conscious rich people.

To understand why, consider the consumer-focused approach to subsidizing electric vehicles the president has in mind. His remarks and White House releases alike constantly refer to “purchasing incentives,” which is just politician-speak for tax money subsidizing consumption — in this case, subsidies for purchases of new electric vehicles.

That’s a pretty wealthy demographic. For one, most working-class Americans buy used cars, not new ones. And electric vehicles are still significantly more expensive than traditional ones, further narrowing the purchasing pool to well-off folks.

Just think about it like this: Have you ever seen a poor person driving a Tesla? Or a working-class person behind the wheel of a Prius?

We don’t have to speculate about who would benefit from Biden’s increased electric-vehicle subsidies — current federal subsidies largely end up in the pockets of the rich. Yes, there already exists a federal tax credit for plug-in electric vehicles. Taxpayers can claim a credit of up to $7,500 for qualifying

Continue reading on National Review

More articles

- Advertisement -

State News

Abbott Announces Special Session Starting July 8

Just a few weeks after the regular legislative session came to a close, Gov. Greg Abbott announced the first of multiple special sessions would...

Bipartisan Group of Lawmakers Request Medicaid Expansion in Special Session

On Monday, a bipartisan group of Texas lawmakers sent a letter to Texas Governor Greg Abbott, asking him to put the topic of Medicaid...

Autopsy Report: Property Taxes Will Continue to Rise in Texas

As Texans’ property taxes continue to rise, the Texas Legislature took no decisive action to lower them across the board. Three experts discuss what...

Sid Miller Declines Run for Governor, Will Seek Re-Election

Texas Agriculture Commissioner Sid Miller announced this week he would run for a third term in 2022, putting to rest any speculation that he...

Polling Shows Wright Leading Ellzey in July Congressional Runoff

North Texas temperatures are heating up this summer, but the competition for an open seat in Congress may be cooling down as polling shows...

Continue reading on National Review