The federal government has far too long meddled in the market, allowing EV buyers an up to $7,500 tax credit.
The EV tax credit was put in place in 2010 to spur sales of electric vehicles by making products more available to middle-income consumers. In practice, the vast majority of those who take advantage of the EV tax credit are among the affluent who don’t need financial assistance.
Market manipulation and cronyism such as the EV tax credit program not only harm competition but places a financial burden on the average American taxpayer. It is not the responsibility of taxpayers to, in essence, subsidize new electric vehicles for the well-off.
By eliminating the federal EV tax credit program and restoring a free market in the electric vehicle industry, we can promote competition, innovation, and lower costs. Rather than continue broken policies that subsidize well-off Americans, politicians should work to get the government out of the way and keep more money in the pockets of all Americans.
For these reasons, I urge you to contact your representative and senators and ask them to cosponsor the ELITE Vehicles Act, H.R. 3796 and S. 1969.