This website collects cookies to deliver better user experience. Cookie Policy
Accept
Sign In
The Wall Street Publication
  • Home
  • Trending
  • U.S
  • World
  • Politics
  • Business
    • Business
    • Economy
    • Real Estate
    • Markets
    • Personal Finance
  • Tech
  • Lifestyle
    • Lifestyle
    • Style
    • Arts
  • Health
  • Sports
  • Entertainment
Reading: Team Biden comes for your cars
Share
The Wall Street PublicationThe Wall Street Publication
Font ResizerAa
Search
  • Home
  • Trending
  • U.S
  • World
  • Politics
  • Business
    • Business
    • Economy
    • Real Estate
    • Markets
    • Personal Finance
  • Tech
  • Lifestyle
    • Lifestyle
    • Style
    • Arts
  • Health
  • Sports
  • Entertainment
Have an existing account? Sign In
Follow US
© 2024 The Wall Street Publication. All Rights Reserved.
The Wall Street Publication > Blog > Trending > Team Biden comes for your cars
Trending

Team Biden comes for your cars

Editorial Board Published February 9, 2022
Share
Team Biden comes for your cars
SHARE

OPINION:

Who should decide which cars you buy? Is it right for some consumers to subsidize the purchases of others?

For Team Biden, the answers are clear. They should decide what kind of cars you can buy, and yes, it is not only right but necessary that those who buy crossovers, SUVs and pickup trucks (which Team Biden doesn’t like) should pay more so that those who buy electric vehicles can pay less.

In the midst of the Christmas season, the Biden administration published a final rule that regulates greenhouse gas emissions from tailpipes. That regulation expands Environmental Protection Agency authority beyond its statutory limits, creates a federal mandate for electric vehicles, limits consumer choice with respect to cars and trucks, makes cars more expensive, and, perhaps most importantly, requires some consumers to pay for the choices of others.

Federal law does, in fact, give the EPA the authority to regulate emissions from cars and trucks. But the final rule goes well beyond that and expands federal government control over what kinds of cars can be sold. The regulation, which addresses model years 2023 through 2026, establishes a de facto federal mandate on automakers to sell a certain percentage of electric vehicles each year.

EPA acknowledges as much in the preamble to the rule: “The analysis for this final rule projects that EVs … will … increase to about 17% market share by [model year] 2026 …”

The rule also will increase the average cost for new cars by somewhere between $1,000 and $2,200. Trucks, SUVs and performance vehicles will cost much more (assuming they continue to be sold). All of that will price some people out of the new car market entirely. Team Biden imagines that reduced fuel use will offset the extra upfront cost. But that is purely speculative.

What’s not speculative is that the regulation requires automakers to produce a fleet that meets a certain average fuel efficiency. The way that works in practice is that those who buy larger cars — like trucks and SUVs — subsidize those who buy smaller, less popular cars.

Unfortunately, those subsidies are not transparent, so no one outside of those selling the cars knows what the cross-subsidy might be. But the math is pretty simple. If you are buying a crossover or larger vehicle, you are subsidizing someone else buying a smaller car or an EV. Next time you buy a car, you should ask the dealer on which side of the equation you are.

In the case of electric vehicles, however, there is an extra, obvious subsidy that routes $7,500 directly from taxpayers to purchasers of EVs.

The automakers know all about these subsidies, both murky and obvious. They are part of the racket, and they are, more or less (but lately more, a lot more) in league with the government.

Before meeting with President Biden recently, Ford CEO Jim Farley had this choice quote: “We’re going to do the investment [in electric vehicles] in the product and capacity expansion and make vehicles as affordable as possible. We need the government’s help to make the switch to e-mobility through consumer incentives.”

Back in 2018, a GM spokesmodel emailed The Associated Press: “We believe an important part of reaching a zero-emissions future … is to continue to provide a federal tax credit to help make electric vehicles more affordable for all customers.”

Get all that? If you want us to sell these losers, you need to give taxpayer money to induce people to buy them.

The EPA is making a similar admission through this rule. Electric vehicles just can’t seem to compete on their own without tax credits or mandates embedded in regulation.

This leads us back to the questions: Who decides? Who should make decisions about what kind of car you can buy? How much of your taxes are going to go to politically favored products?

As it stands right now, Team Biden’s bureaucracy is going to make all of those decisions for you. It knows how people will feel about that, which is why it buried the announcement of this regulation deep in the middle of the Christmas season. The last thing it wants is for voters to focus on what is, essentially, the theft of their right to decide.

Finally, what does it say about a product when the government has to mandate its sale and subsidize its purchase? How many pork chops do we have to tie around the neck of electric vehicles before the dogs are willing to play with them?

• Michael McKenna, a columnist for The Washington Times, is a co-host of “The Unregulated” podcast. He was most recently a deputy assistant to the president and deputy director of the Office of Legislative Affairs at the White House.

TAGGED:TrendingWall Street Publication
Share This Article
Twitter Email Copy Link Print
Previous Article Ron Rivera tone deaf on Everett car crash tragedy Ron Rivera tone deaf on Everett car crash tragedy
Next Article Elon Musk’s SpaceX Seeks to Reconnect Tonga to Internet Elon Musk’s SpaceX Seeks to Reconnect Tonga to Internet

Editor's Pick

Nicki Minaj Calls Cardi B’s Daughter ‘Ugly’; Cardi Shoots Again That Nicki’s Son Is Nonverbal Because of Drug Use Throughout Being pregnant

Nicki Minaj Calls Cardi B’s Daughter ‘Ugly’; Cardi Shoots Again That Nicki’s Son Is Nonverbal Because of Drug Use Throughout Being pregnant

Studying Time: 3 minutes The Nicki Minaj vs. Cardi B beef has been occurring for years. Like, mainly for so…

By Editorial Board 4 Min Read
China opens world’s reported largest span bridge over Beipan River valley to visitors
China opens world’s reported largest span bridge over Beipan River valley to visitors

The Huajiang Grand Canyon Bridge opened to visitors for the primary time…

3 Min Read
Nicole Kidman-Keith City Divorce Particulars Revealed: Nicole Desires the Youngsters 10 Months Out of the 12 months!
Nicole Kidman-Keith City Divorce Particulars Revealed: Nicole Desires the Youngsters 10 Months Out of the 12 months!

Studying Time: 3 minutes Few celeb breakups have been as surprising because…

4 Min Read

Oponion

Denver Mayor Mike Johnston says Trump’s mass migrant deportations will create ‘Tiananmen Sq. second’

Denver Mayor Mike Johnston says Trump’s mass migrant deportations will create ‘Tiananmen Sq. second’

Democratic Denver Mayor Mike Johnston pledged to withstand President-elect Trump’s…

November 22, 2024

Elon Musk Says Decision on Reinstating Trump Not Yet Made

TechTwitter boss shared details of company’s…

November 18, 2022

Bitcoin Price Slides as China Jitters Hit Crypto Markets

Bitcoin fell sharply on Monday as…

September 20, 2021

Ballot: Capitalism is out … and socialism is in

The socialist model is on the…

September 15, 2025

Greatest Epson printer

Which Epson printer is finest? Whereas the…

April 30, 2025

You Might Also Like

The Quiet Shift in America’s Workforce: Why Side Hustles Are Becoming Essential for Women Over 40
BusinessTrending

The Quiet Shift in America’s Workforce: Why Side Hustles Are Becoming Essential for Women Over 40

Across the nation, a quiet but powerful workforce shift is underway. Increasingly, women over 40 are seeking side hustles to…

4 Min Read
Deborah Dalton: Award-Winning Novels and Film
EntertainmentTrending

Deborah Dalton: Award-Winning Novels and Film

Topeka, Kansas. Deborah Dalton’s career has taken a path as remarkable as the worlds she creates on the page. Long…

2 Min Read
“Journey Within” Masterclass with Gurudev Sri Sri Ravi Shankar
LifestyleTrending

“Journey Within” Masterclass with Gurudev Sri Sri Ravi Shankar

World-Renowned Meditation Leader Returns to North Texas Dallas, TX — This fall, the Art of Living Foundation in Dallas will…

5 Min Read
Interview with Canadian Futures Trader: Inside the Journey of a Modern Futures Trader
LifestyleTrending

Interview with Canadian Futures Trader: Inside the Journey of a Modern Futures Trader

Paul, Futures Times: Thanks for joining us today, Chris. To start off, can you tell us about your background and…

7 Min Read
The Wall Street Publication

About Us

The Wall Street Publication, a distinguished part of the Enspirers News Group, stands as a beacon of excellence in journalism. Committed to delivering unfiltered global news, we pride ourselves on our trusted coverage of Politics, Business, Technology, and more.

Company

  • About Us
  • Newsroom Policies & Standards
  • Diversity & Inclusion
  • Careers
  • Media & Community Relations
  • WP Creative Group
  • Accessibility Statement

Contact

  • Contact Us
  • Contact Customer Care
  • Advertise
  • Licensing & Syndication
  • Request a Correction
  • Contact the Newsroom
  • Send a News Tip
  • Report a Vulnerability

Term of Use

  • Digital Products Terms of Sale
  • Terms of Service
  • Privacy Policy
  • Cookie Settings
  • Submissions & Discussion Policy
  • RSS Terms of Service
  • Ad Choices

© 2024 The Wall Street Publication. All Rights Reserved.

Welcome Back!

Sign in to your account

Lost your password?