Trump To DESTROY Electric Vehicle Subsidy

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Well, it’s about time. The EV tax credit going, Well, hopefully soon. Donald Trump’s transition team planning to kill the $7,500 tax credit, consumer tax credit for electric vehicle purchases as part of broader tax reform legislation. They’re saying ending the tax credit could have grave implications.

for an already stalling U.S. EV transition.

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If you need a subsidy, if you need a tax credit, the entire transition is stupid. Musk at this time is like, get rid of it. But he’s also right too. He says, get rid of all the subsidies for oil and gas. I don’t think anybody should be getting any sort of special treatment when it comes to subsidies. I’ve yelled and screamed about this for years, years. Why the flip do I gotta pay for somebody else’s

car. It’s horse manure, quite frankly, it really is. And this this EV transition that’s stalling, it’s stalling because people don’t want the cars. Go, go, go, go to a Mercedes lot, go to a BMW lot, go to a go, go, go, go take a look for yourself. Talk with the people selling the cars and ask them how well those EVs are moving.

Okay, listen, I don’t have any problem with electric vehicles. It is a niche market. It’s fine in the same way that Bugatti is a niche market, a $2 million plus supercar. If you want one, great. It’s not for everybody, but to force everyone to go out and buy it or incentivize people to buy it, no, that’s not how the free market works. That is not how we are going to advance better technologies.

That’s quite frankly the government picking, choosing winners and losers and they’re not good at that. Watchdogonwallstreet.com.