Robin Hood in reverse? Democrats plan $12,500 tax credits for pricey electric car purchases – IOTW Report

Robin Hood in reverse? Democrats plan $12,500 tax credits for pricey electric car purchases

JTN

House Republicans are arguing against a Democratic proposal to increase the $7,500 taxpayer-funded credit for electric car purchases to as much as $12,500, arguing that it would disproportionately help wealthy Americans who can afford to buy pricey electric vehicles.

Democrats on the House Ways and Means Committee have proposed increasing the credit as part of their party’s filibuster-proof $3.5 trillion budget reconciliation bill, which includes new social programs and billions for electric vehicle infrastructure.

Electric cars “can cost anywhere from 10 percent to over 40 percent more than a similar gasoline-only model,” a Consumer Reports analysis found last year (although the study argued that estimated savings on things like fuel and repairs offset the higher purchase prices over time).

In 2020, electric cars accounted for only 2% of new passenger vehicle sales

Under the latest version of the proposal, an increased credit of $12,000 would apply to union-made vehicles that are assembled in the U.S. and an extra $500 would be added if the vehicle contains 50% domestic parts. more

10 Comments on Robin Hood in reverse? Democrats plan $12,500 tax credits for pricey electric car purchases

  1. Or… how to weaken America and free up our fossil fuel resources for the Chinks!
    Wake me when a 33.7 kWh battery weighs 6.3 pounds… or at least less than 10lbs
    Right now a battery equivalent to a gallon of gas weighs close to 350lbs (in rough numbers)
    A gallon of gasoline weighs 6.3lbs and is roughly equal to 33.7kWh.
    It ain’t even close folks!!
    An electric car or truck has to use a lot of energy just to lug its own fuel source around!
    This does not make America better, stronger or competitive when we are competing in a world that runs on fossil fuel!

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  2. They’re not serious about electric transportation. As an alternative I was looking into getting an electric 4 whl mobility scooter as a hassle free way to get around using the bike lanes. But a drivers license is still required and you have to stop and walk it across streets using crosswalks. A license is even required to ride a 2 wheeler.

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