Biden and Democrats are pushing their massive new tax and spending bill, claiming it’s going to help battle inflation. In reality, most experts revealed it will do little to fix inflation. Some argue it is going to make inflation much worse.
That’s the reason Biden and the left have tried to rebrand the bill already, saying it’s a “climate” bill. Included in the bill is a tax break for rich Americans: a $7,500 tax credit if they buy an electric car. Unfortunately, even that measure has been nullified by an already-announced hike in the cost of EVs.
Citing “significant material cost increases and other factors,” Ford’s announcement revealed price hikes between $6,000 and $8,500 for its electric vehicles. The F-150 Lightning Pro, for example, will sell for $46,974 — a $7,000 increase from the $39,947 charged for last year’s model. GM likewise increased the cost of its electric Hummer by $6,250 last month.
The price hikes are comparable to the $7,500 tax credits for new electric vehicles included in the $740 billion Inflation Reduction Act, which currently awaits President Joe Biden’s signature. The legislation earmarks a total of $369 billion to combat “the existential crisis of climate change,” according to remarks from Biden…
The price hikes appear to upend repeated assertions from the White House that electric vehicle tax credits — combined with elevated prices at the pump — will accelerate renewable energy adoption in the United States. [Source: Daily Wire]
So, let’s set this straight. Democrats’ “solution” to rising gas prices and “climate change” is to do nothing. All so that more Americans will be forced to buy electric vehicles. To pretend like they’re helping, Biden and the left included a $7,500 tax credit to anyone who buys an EV.
The problem? This was a gift to mostly rich Americans who can afford the already expensive electric cars. And, hilariously, it’s already been wiped out by an announced increase in the cost of new electric vehicles!
Ford and GM have stated that new electric cars—already too expensive for most Americans—will increase by $6000-$8,500. The companies blame the rise in “material cost” and “other factors, whatever those are.
In reality, they are probably referring to the shortages that have made all cars much more expensive. As well as increased costs due to the supply chain crisis—something Biden has failed to address for over a year.
So, Biden is making things much worse on nearly every front. And his “solutions” don’t mean a thing.
Not that most Americans could afford the average EV, which cost upwards of $50,000-$60,000 (some cost even more).
Most economists agree that solving inflation does not require more spending. Instead, Biden needs to restore drilling for oil on federal land. And he needs to close the border, so we have fewer illegals competing for jobs. And, he needs to do something to address the supply chain backlog, which has been plaguing us since 2021.
But Biden is unwilling to fix some of those problems and unable to do the rest. He is a puppet who only exists to rubber-stamp the DNC’s radical agenda. Beyond that, he is useless, a corrupt old man who is sleeping through one of America’s darkest hours.
Author: Max Davis