Carmakers Jack Up Prices, Cancels Out Dems’ $7,500 EV Tax Credit
Electric car manufacturers have hiked their prices pretty much across the board, effectively and completely canceling out government tax-credit incentives signed into law by Democrats this week.
Under the ‘Inflation Reduction Act’, which economic experts say will not reduce inflation, anyone buying a new EV with a battery that was built in North America is eligible for a $7,500 credit. [bold, links added]
That already discounts most EVs.
Less than a third are eligible.
As for the rest, well they’ve gone up in price by thousands of dollars.
So much for the green transition.
As we have repeatedly highlighted, EVs cost on average $67,000 and are already completely unaffordable to most Americans.
Biden Transportation Secretary Pete Buttigieg defends the green energy handouts — a $7,500 giveaway to wealthy Americans for electric vehicles, which have an average cost of $67K — in the Bidenflation Scam. pic.twitter.com/E3UJaOlxJe
— RNC Research (@RNCResearch) August 4, 2022
Biden Energy Secretary Jennifer Granholm insists high gas prices are “a very compelling case” to buy an electric vehicle. pic.twitter.com/pMpLIoXBKR
— RNC Research (@RNCResearch) June 14, 2022
Read rest at Summit News
Trackback from your site.