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How long does an introductory incentive period for EVs have to go on for? The hefty subsidies have to come out of finite state budgets.
By Nicolas Loris and David Grogan ~
Earlier this year, Congress passed an irresponsible budget bill that included handouts for electric vehicle owners and alternative fuels.
Eager to frivolously waste more taxpayer dollars, some legislators are now pushing to extend the electric vehicle tax credit and lift the cap on the number of vehicles that qualify for the credit by each manufacturer.
In 2014, 79 percent of electric vehicle tax credits went to households making over $100,000. (Photo: nrqemi/Getty Images)
Doing so would reward special interests and only benefit the wealthiest Americans. Congress should instead eliminate the subsidies for electric vehicles.
Promoted as a way to wean Americans off their alleged addiction to oil, both federal and state governments have generous handouts for electric vehicles. Consumers can use up to $7,500 of other peoples’ money to buy an electric vehicle.
Add in-state and local incentives and that number can easily top…
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September 23, 2018 at 07:57AM
