By Nicolas Loris ~
Frustrated with General Motors Co.’s recent announcement of plant closures and layoffs, President Donald Trump said the administration is now looking at cutting at subsidies to the automaker, including for electric vehicles.
Good. Families should be empowered to purchase the car they want without nudging from Washington and the financial help of their fellow taxpayers.
“The subsidies accrue to carmakers and America’s wealthiest households, which can also afford an electric vehicle without any help from other taxpayers,” writes Nicolas Loris. (Photo: EXTREME-PHOTOGRAPHER/Getty Images)
Electric vehicle handouts subsidize the wealthiest Americans and, despite their being advertised as a more “climate-friendly” option, they produce next to no climate benefit for the planet.
Trump does not quite have the power to cut GM’s current electric vehicles subsidies full stop. But he could play an important role in the future of the targeted tax subsidy.
Both federal and state governments…
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