‘Block the proposed expansion of this welfare program for the wealthy…’
(Joshua Paladino, Liberty Headlines) The American Energy Alliance called on Senate Republicans to stop Democratic efforts to expand the “inefficient, costly and unfair electric vehicle (EV) tax credit.”
“House Democrats have made expanding the electric vehicle subsidy a top priority before Congress wraps up for the year,” AEA President Thomas Pyle said. “This move would essentially enrich two auto companies, GM and Tesla, along with wealthy coastal elites, mainly from California and New York. It’s now up to the Republicans in the U.S. Senate to stop the madness. No deals, no extensions.”
AEA ran an advertisement in the Wall Street Journal on Nov. 20. that shows a man counting a wad of cash in front of an electric vehicle with the claim, “The electric vehicle tax credit is not necessary to support the market in the U.S.”
Indeed, plenty of eco-friendly, wealthy Americans can afford electric vehicles, and their purchases can sustain the market until electric vehicles become affordable for the middle class.
Yet Democrats want to expand the EV tax credit under the Green New Deal because it would benefit their rich constituents.
AEA’s ad said 80 percent of the $9.7 billion from the tax subsidy would flow to “wealthy coastal elites who don’t need it.”
Specifically, 78.7 percent of EV tax credits went to households that make $100,000 or more per year and half went to households that make $200,000 or more per year.
On top of forcing average Americans to subsidize electric vehicle purchases, a report from the Treasury Department’s Inspector General found nearly $82 million in fraudulent payments through the EV tax credit.
Polls show that the majority of Americans do not support EV subsidies.
“Majority Leader McConnell and his Senate GOP colleagues must protect consumers and taxpayers by eliminating the electric vehicle tax credit once and for all,” Pyle said. “At the very least, they must block the proposed expansion of this welfare program for the wealthy.”