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Contrary What Republicans Claim, Tax Credits for Electric Vehicles Will Not Go to the Wealthy [1]

['Dean Baker']

Date: 2024-06-26 17:18:34+00:00

The New York Times had an article on the prospects for investment in clean energy if Donald Trump gets back in the White House. At one point the piece quotes Senator John Barrasso, a Republican from Wyoming, on the tax credits for electric vehicles:

“The electric vehicle tax credit benefits the wealthiest of Americans and costs hardworking American taxpayers billions of dollars, …”

It would have been useful to point out that individuals with an income above $150,000 and couples with income above $300,000 are not eligible for the tax credits. In other words, the senator’s charge that the tax credits benefit the wealthy is not true. New York Times readers should know this.

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[1] Url: https://cepr.net/contrary-what-republicans-claim-tax-credits-for-electric-vehicles-will-not-go-to-the-wealthy/

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