re: Re The Chevy Volt

Los Alamitos CA

Description

Not political huh....... "While electric vehicles (EVs) subsidies might appear to be a creative way to encourage consumers to shift away from petroleum-powered cars, these subsidies only act as handouts to the wealthiest Americans. Furthermore, these subsidies risk crowding out private sector investment and innovation, slowing the transition towards greener transport. Currently, the federal government offers a $7,500 tax credit for purchasing electric vehicles and several state-level tax incentives that act as a subsidy for wealthy Americans looking to lower their tax liabilities. Recently, President Biden proposed $174 billion for electric vehicles and charging stations in his American Jobs Plans, including an increase in the tax credit. https://fueleconomy.gov/feg/taxevb.shtml"