(RightWing.org) – The Biden administration has been borrowing huge amounts of money to spend on its green agenda, and the same environmentalist goals are also driving its economic plans. New tax credits aim to persuade Americans to buy electric cars — and give US companies an advantage in the growing EV market. So far, Biden is offering the carrot to persuade us to give up gas-powered vehicles. If that doesn’t work, will he try the stick?
.@HouseGOP is fighting for the working class – Dems are protecting their donor class
Over 90% of green energy credits go to corporations making over $1 billion/year
78% of EV tax credits go to people making over $100K/ year
CHINESE companies will benefit from Biden's subsidies https://t.co/iUESqDgqzj
— Rep. Chip Roy Press Office (@RepChipRoy) May 9, 2023
In June 2022, the Edison Electric Institute (EEI), a trade group for American electric companies, released a report that predicted 26.4 million electric vehicles will be operating in the US by the end of the decade. In 2018 the same group predicted 18.7 million EVs by 2030, so they’re now taking a bullish view of the EV market. As the 2022 report points out, it took eight years for the first million electric cars to be sold in the US but less than three years for the next million. EEI thinks that by 2030 more than five million will be sold every year.
The federal government is trying to hurry this process along by offering tax credits worth up to $7,500 to anyone who buys an electric vehicle. The rules for those credits are complicated and change often, but they’re designed to push buyers towards US-made EVs.
Will $7,500 be enough to persuade Americans to switch to electric cars, though? Even with the tax credit, they’re not cheap, and short driving ranges and a lack of charging points make long journeys tricky. EVs are ideal for some people, but they’re not good for everyone.
Unfortunately, Biden seems to be ignoring that in his green obsession. In fact, some are arguing the government shouldn’t be telling us what to drive at all. The Democrats seem to have decided EVs are the way ahead, but there are other alternatives to gas and diesel engines. For example, hydrogen engines have a lot of potential. It’s usually best to let the market decide what technologies are adopted.
Yes, the Biden administration thinks electric cars are the future — but people thought the same about Betamax VCRs, too.
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