We noted yesterday that the worst thing that ever happened to the electric vehicle industry was Joe Biden. By subsidizing them, mandating them, and browbeating manufacturers to make them, he’s made EVs toxic to well more than half the country.
The industry is collapsing and so now he’s doubling down on his mandates.
The mandates in the final rule are slightly less unachievable than his original pie-in-the-sky rule that mandated 67% battery-electric vehicles by model year 2032 (right now about 7.6% of new car sales are non-hybrid EVs). But his base scenario is still that 56% of all model year 2032 vehicle sales must be non-hybrid EVs.
Worse yet, Biden will only allow 64% of new vehicles sold in model year 2027 to be internal-combustion-only and just 29% in model year 2032. It's 84% now.
There is NO way those mandates can be met without putting a figurative gun at car buyers’ heads and forcing them to purchase cars they don’t want.
Since demand for gas cars will far outstrip the supply (as per federal law), the price of gas cars will skyrocket. Americans will rush to buy gas cars now to avoid the stricter mandates later.
Democrats, of course, want to take the next step to the total ban by 2035 already adopted by California, Maryland, Massachusetts, New Jersey, New York, Oregon, Rhode Island, Virginia, and Washington.
Which makes this headline denial in the New York Times truly absurd, infuriating, and dishonest:
Americans have love affairs with their cars. What’s next? Banning SUVs?
If Biden tries to actually enforce these Stalinist restrictions on buying the cars we want, it WILL be a bloodbath. There we said it.
At least Obama would have made some fake and hollow promises like: Under my plan, if you like your car, you can keep your car.
Just a year or so ago Governor Hairgel of California was boasting about California’s budget surplus.
Never mind. It’s vanished.
Independent budget analysts recently pegged the state’s deficit at $73 billion, up from $58 billion just last January. Of reserves, the state has available (about $24 billion).
The Golden State Is Now the Red Ink State
Jesse Gabriel, chair of the Assembly’s budget committee, “We are saying our prayers and lighting our candles and lighting our incense and hoping that… our revenues come in better than expected.”
That isn’t likely. California’s employment growth was revised downward last week. Previous estimates had job growth in the tech and professional sectors at 0.9 percent last year, the new estimate showed employment down 1.5 percent. Job growth was clustered in government jobs and health care, where a majority of spending comes from the government.
What is astonishing is that California is number one or number two in the country in the highest income tax, highest business tax, highest sales tax, and highest gas tax And it still can’t pay its bills. We’re fairly sure that Gavin Newsom will come up with something new to tax. What happens, Governor, when there are no rich people left in the state to tax?
3) Chicago Voters Slap Down “Teacher Union Pet” Mayor and His “Robin Hood” Soak the Rich Tax
Speaking of socking it to the rich, we turn to hapless Chicago. (No we aren’t talking about the Bears giving away starting quarterback Justin Fields for nothing – though that may go down as one of the dumbest trades in NFL history.)
Brandon Johnson, the progressive stooge of the teachers union who was catapulted into the Chicago mayor’s office a year ago, got socked on the chin himself in Tuesday’s elections. Voters are already turning thumbs down on his soft-on-crime policies, and now they have rejected his plans to triple and even quadruple property taxes on million-dollar homes as a way to funnel money to homeless programs. They called it the “Robin Hood Tax.”
The Chicago Sun-Times put it best in describing Tuesday’s primary election: “Mayor Johnson and the progressive movement behind him appeared headed toward a humiliating defeat Tuesday that will force them to search for another source of revenue to combat homelessness.”
Sometimes voters even in the bluest of cities say they have had enough of tax and spend economics.
4) Under Biden's Budget the Federal Government Would Spend a World Record $57,000 Per Household
No your eyes aren’t deceiving you. Biden proposed a $7.3 trillion budget and there are roughly 130 million U.S. households. This comes out to $57,000 per household and that would rise to $60,000 in 2026. Question: does anyone think they are getting anywhere near $57,000 of federal services this year?
