Washington Knows Best What Car You Should Drive: Electric Vehicles. Seriously?
President Joe Biden has used a variety of policy vehicles to force a transition from the ubiquitous internal combustion engine to electric vehicles. Among them are executive orders, procurement mandates for the military, and regulations to make it almost impossible to manufacture and sell a conventional car or truck. The Senate is poised to join in.
Heaped on top of tens of billions of dollars in grants, taxpayer-backed loans, and investment tax credits for EV manufacturers, the misnamed Inflation Reduction Act negotiated by Senate Majority Leader Chuck Schumer, D-N.Y., and Sen. Joe Manchin, D-W.Va., proposes an extension of EV tax subsidies. The bill offers up to $7,500 in tax credits for new EV purchases, including bonuses for EVs made by union labor and batteries manufactured or assembled in North America. The legislation also makes the existing EV tax credit even bigger by eliminating caps on sales, adding a new tax credit of $4,000 for used EVs, and extending the credits for the next decade.
The problem isn’t the size of the credit or even EVs themselves. The real problem is politicians attempting to force a transition to energy sources they prefer, having no inhibitions about the arrogance of such a central planning scheme, the restrictions it imposes on freedom, or the trade-offs, limitations, and collateral damage those policies cause at Americans’ expense.
Authored by Katie Tubb and originally published at The Daily Signal on 3 August 2022 here.