A top Republican wants to pull the plug on one awful scheme by Joe Biden
Joe Biden’s Presidency was an absolute disaster for the country.
He left behind a mess for Republicans to clean up.
And a top Republican wants to pull the plug on one awful scheme by Joe Biden.
Bill introduced to repeal Joe Biden’s electric vehicle tax credit
Former President Joe Biden was hell-bent on forcing the country to transition to electric vehicles.
To speed up this transition, he included a $7,500 tax credit in the wildly misnamed Inflation Reduction Act for anyone who bought or leased an electric vehicle.
U.S. Senator Bernie Moreno (R-OH) – a former owner of car dealerships in Cleveland – warned that Biden’s electric vehicle tax credit was being abused by millionaires to purchase electric Rolls Royces and Porsches.
“COVID has a special place in history as bad public policy, but this EV credit will be up there in terms of truly the worst public policy in American history,” Moreno said. “It’s obscene public policy.”
There’s a loophole a mile wide that allows almost any electric vehicle lease to be classified as a commercial one.
“Commercial use is a term of art in a car business — that means a lease,” Moreno explained.
Representative Jodey Arrington (R-TX) introduced the Eliminating Lavish Incentives to Electric Vehicles Act to repeal Biden’s electric vehicle tax credit.
“Under President Biden and the most climate-crazed administration in the history of our country, Democrats ran up the bill on the American people to the tune of billions of dollars, strapping tax subsidies for expensive electric vehicles to the failed Inflation Reduction Act,” Arrington stated.
Donald Trump wants the electric vehicle tax credit repealed
Arrington’s bill would bring the scam to an end where taxpayer money is used to buy an electric Rolls Royce.
“I will remain on a mission to repeal Green New Deal climate handouts along with other woke and wasteful spending programs while we restore fiscal sanity, reignite prosperity, and Make America Great Again,” Arrington said.
Trump repealed the Biden Environmental Protection Agency’s (EPA) electric vehicle mandate that required nearly two-thirds of cars sold by 2032 to have zero emissions.
His administration is eyeing a repeal of Biden’s electric vehicle tax credit to help pay for an extension and expansion of his landmark 2017 tax cuts.
U.S. Oil & Gas Association president Tim Stewart told Fox News that automakers and consumers will be breathing a sigh of relief when Biden’s tax credit is repealed.
“Losing $70,000 on an EV is not a winning business model and U.S. automakers know that,” Stewart said. “The EV tax credit was the only way to entice consumers to ‘maybe’ purchase something they really didn’t want, but told by the Biden folks they had to buy.”
Stewart said that dismantling Biden’s electric vehicle regulations would give automakers the chance to pivot back to internal combustion engines.
Tesla CEO Elon Musk has backed eliminating all tax credits for electric vehicles.
Joe Biden tried to use a tax credit to lure drivers behind the wheel of an electric vehicle.
Now, his entire electric vehicle scheme is being repealed by Donald Trump.
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