It's a shame too because this new technology was only one handout away from breaking through to the mainstream...
Detroit Bureau (7/18/22) reports: "The extension of a tax credit for purchasers of electric vehicles appears to have died on Capitol Hill after Sen. Joe Manchin (D-West Virginia) refused to support climate change provisions President Joe Biden hoped pass as part of the “Build Back Better” package. Build Back Better died in December after efforts to reach a compromise acceptable to Manchin. But recently Democrats have been scrambling to a re-assemble a package after Manchin indicated he would support some key provisions of the original bill, and the discussions were intense, according to Representative Debbie Dingell (D-Michigan), a key supporter of the auto industry on Capitol Hill. The Alliance for Automotive Innovation, which represents more than 20 auto manufacturers, previously argued — with support of top auto executives — the credits are necessary to expand the move away from vehicles with internal combustion engines...With EV sales picking up momentum —EV’s accounted for 5.6% of all sales during the second quarter of 2022, according to Cox Automotive. With more EV models reaching dealers and motorists, manufacturers are running out of credits. Tesla and General Motors are out of credits and Toyota just passed the 200K threshold. Ford and Nissan are not far behind with Honda and Hyundai moving quickly as well. With the average price of new electric vehicle climbing past $60,000, the EV tax credit has been attacked it as a giveaway to rich by Congressional Republicans, who have otherwise voted for other tax preferences for the wealthiest Americans."
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"Far from being near-omniscient sages of science, the bureaucrats making life-altering decisions at the EPA are people who bear no costs if they impose unnecessary burdens on the lives of ordinary people but who also find that the more draconian their edicts, the greater the praise from environmental interest groups and, of course, the New York Times. What possibly could go wrong?"
– William L. Anderson,
The Mises Institute
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