Political Quotes

“today U.S. taxpayers are subsidizing the electric car industry. The cost to these taxpayers is billions of dollars, and the subsidies have lasted now for nearly 30 years. In 2008, Washington added a tax credit for purchases of electric vehicles. The market was very small at that time, and it was worth encouraging that market, but today the electric market for vehicles is well established. The auto industry no longer needs these pricey subsidies for electric vehicles, and I believe it is time to pull the plug on subsidies for electric vehicles. Leading manufacturers, including General Motors, Ford, and Volkswagen, have announced plans to massively increase investment in the electric vehicle market. Global automakers are promoting electric car luxury brands, such as Bentley, Aston Martin, Maserati, Porsche, and Cadillac, but with these new electric vehicles coming to the market, the subsidy program is going to continue to run at an enormous cost to American taxpayers. Congress first passed legislation to provide subsidies for electric car buyers back in 1992. The purpose was to temporarily support a promising, environmentally friendly market. For decades now, Washington expanded this program of tax credits. At the same time, many States enacted similar subsidies. Between 2011 and 2017, electric car buyers received more than $4 billion in Federal credits alone, costing taxpayers up to $7,500 for each vehicle.…”