Biden's tax credit for union made electric vehicles

 Washington Examiner:

...

The $4,500 union-only tax credit is part of a larger $12,500 incentive that also rewards buyers of electric vehicles. Biden aims to have half of all new cars and trucks sold by 2030 to run on electricity. At the Michigan stop, he leaned into the microphone as he boomed that "union made" American vehicles will get the biggest break.

But the credit's list of opponents is large and growing. Canadian and Mexican leaders have come out against it, as have ambassadors from the European Union, Germany, France, Japan, South Korea, Italy, and several other countries, charging that it violates international trade rules.

Some domestic automakers, most notably Elon Musk's Tesla, oppose the union credit as well, with Musk calling Biden a United Auto Workers puppet.

Republicans oppose it, with South Carolina Sen. Lindsey Graham saying it undermines climate change goals by reducing the number of vehicles eligible for the top break.

"That is bad for the environment and is bad for business, and I don't think it's legal," he said.

Most notably, swing-vote Democratic Sen. Joe Manchin threw cold water on the proposal, saying, "This is wrong. This can’t happen. It’s not who we are as a country. It’s not how we built this country, and the product should speak for itself."

Yet, the union break lives on in the Build Back Better Act that the House passed by a 220-213 vote along party lines Friday morning.
...

It is anti-competitive and creates unfair competition thereby hurting consumers.  It is an unjustified gift to a shrinking part of the workforce.  Unions only make up about 10% of the US workforce now.

BTW:

The single biggest provision in Biden bill in first half-decade is tax cut for wealthy

Comments

Post a Comment

Popular posts from this blog

Should Republicans go ahead and add Supreme Court Justices to head off Democrats

Washington Post: Some Democrats eye adding more justices to the Supreme Court to change its ideological bent The once-remote idea has gained the attention of liberals angered by the GOP push to remake the federal courts. Probably the easy way to defeat this court-packing scheme is for Trump to propose doing the same thing now.  It would lead to Democrat denunciations and claims that it would be wrong, thereby blowing up any attempt by them in the unfortunate event of Democrats winning a presidential election.
Read more

29 % of companies say they are unlikely to keep insurance after Obamacare

Conn Carroll: A new survey of 368 midsize to large companies found that 29% of them are considering terminating their active employee health care plans when Obamacare is full implemented in 2014. Only 71% of employers surveyed said they did not expect to drop their health coverage, while 20% said they did not know and 9% said they were planning to exit. The latest survey, conducted by Towers Watson, echoes an ealier survey by McKinsey & Co. finding that 30% of private-sector employers were planning to drop their employee health insurance coverage by 2014. When the Congressional Budget Office crunched Obamacare's spending numbers, they estimated that only 7% of employees currently covered by employer-sponsored plans would lose their plans. ... This means the cost of the health care fiasco will be hundreds of billions more than estimated by the CBO and Congressional Democrat. It is also clear that Obama's pledge that you could keep your health care plan if you wanted t
Read more