‘President Trump deserves credit for putting billions back into taxpayers’ pockets…’
(Joshua Paladino, Liberty Headlines) President Donald Trump has prevented Congress from expanding the electric vehicle tax subsidy, a government subsidy that benefits the wealthy, in next year’s spending bill.
The White House threatened to kill the compromise spending bill if it contained the subsidy, Bloomberg reported.
Trump opposes the expansion because he believes it will benefit wealthy citizens in areas like California and New York.
Thomas Pyle, president of the American Energy Alliance, praised Trump for quashing the bipartisan cronyism in a press release.
“Refusing to expand the costly, unnecessary, and unfair electric vehicle tax credit, the solar investment tax credit, and other green giveaways, is a major win for middle class American taxpayers,” he said.
“There has been extreme resistance from the president,” said Sen. Debbie Stabenow, D-Mich. “I don’t know why the White House would want to stop jobs and the future of the auto industry.”
The current electric vehicle tax credit allows automakers to sell 200,000 vehicles with a $7,500 tax credit.
“President Trump deserves credit for putting billions back into taxpayers’ pockets and the renewable energy special interests ought to be terrified at this outcome,” Pyle said.
“AEA commends President Trump for making his opposition to a handout increase clear, and to the Congress for reaching a deal that allows the electric vehicle tax credit to run its course, as intended,” he added.
The federal government has paid nearly $10 billion under the electric vehicle tax credit.
About 80 percent of the money went to households making more than $100,000 per year. About 50 percent of the money went to households earning more than $200,000 per year.
Additionally, the program’s support has waned due to a history of rampant fraud and abuse, which amounted to an estimated $82 million in losses between 2013 and 2017.