From 2% to 50% in 8 years? Anything is "possible" when Uncle Joe gives you a blank check backed up by the U.S. taxpayers.
Wall Street Journal (8/5/21) reports: "Roughly half of all cars and light trucks sold in the U.S. by 2030 would be electric, hydrogen-fuel cell and plug-in hybrid vehicles under voluntary targets set to be announced Thursday by the Biden administration and backed by auto makers, contingent on government support. In a joint statement, General Motors Co. , Ford Motor Co. , and Chrysler maker Stellantis NV said their commitment hinges on federal funding for manufacturing and supply-chain research and development, purchase incentives and an EV-charging network. The auto makers said their commitment was to have electric, fuel cell and plug-in hybrid vehicles comprise 40% to 50% of sales by 2030, saying the action 'represents a dramatic shift from the U.S. market today.' Biden administration officials, however, said the president plans to sign an executive order setting a voluntary target of 50%...Other auto makers joined in supporting the administration’s efforts. In a joint statement released by the White House, BMW, HondaMotor Co., Volkswagen and Volvo said they 'remain committed to leading the industry in fighting against climate change.' 'That’s why we support the Administration’s goal of reaching an electric vehicle future and applaud President Biden’s leadership on reducing emissions and investing in critical infrastructure to achieve these reductions,' the statement said."
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"That bigger picture shows how short-term 'savings' infrastructure bill supporters claim from states rejecting federal unemployment benefits are actually swamped by far larger cost overruns involving the same benefits last year. In effect, there’s no consequence when total pandemic spending outruns projections, but if it ever temporarily falls short of projections, it can be party time with the supposed 'savings.'"
–Matt Weidinger,
American Enterprise Institute
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