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WASHINGTON, D.C. -- In response to House Ways & Means Democrats’ newly-unveiled Growing Renewable Energy and Efficiency Now (GREEN) Act, which abuses crony tax provisions such as the electric vehicle (EV) tax credit in an attempt to address climate change, Jason Pye, FreedomWorks Vice President of Legislative Affairs, commented:
“The GREEN Act attempts to further manipulate markets to promote more environmentally-friendly practices. Unfortunately, such policies not only fail to achieve their goals but also unfairly choose winners and losers, to the detriment of all Americans.
“There is no more harmful example of this than the EV tax credit, which is massively expanded in the GREEN Act. Make no mistake: The EV tax credit is nothing but regressive cronyism. It redistributes wealth from hard-working families to subsidize a small group of wealthy people who can already afford EVs. Nearly 80 percent of beneficiaries have six-figure household incomes.
“House and Senate Republicans must stand strong against expanding or creating tax incentives that complicate the code, fail to accomplish their purported goals, and promote crony policy that harms our nation.”
See FreedomWorks’ article here for further information on our position.