The high cost of Biden-Harris regulations

 Newsmax:

Biden-Harris administration regulations are on pace to cost the average American family $47,000, according to a University of Chicago economics professor.

The amount in net present value corresponds to an annual cost of $6,300 for 10 years or an annual cost of $3,300 forever to each family, Casey Mulligan, Ph.D., said in a report for the Committee to Unleash Prosperity.

That's almost twice the costs imposed during President Barack Obama's first term.

By comparison, even without counting Operation Warp Speed, President Donald Trump's first term saved each household $11,000.

Trump, the Republican presidential nominee, is seeking to return to the White House. He will oppose Vice President Kamala Harris in November's presidential election.

Mulligan's report says the costs of new federal rules are more regressive than any of the major monetary taxes used by federal, state, and local governments.

"By reducing wages and increasing consumer prices, the rules finalized during the first term of the Biden-Harris administration are expected to reduce the purchasing power of the lowest-quintile households by 5%," Mulligan said.

The report said the single greatest new regulatory cost comes from a rule issued in March. The rule is designed to ensure that the majority of new passenger cars and light trucks sold in the United States are all-electric or hybrids by 2032, The New York Times reported.
...

The attempt to force people into EVs is foolish.  There is not sufficient infrastructure to charge them conveniently as you can get a fill-up at a gas station with a fossil fuel-driven vehicle.  Many EVs also lack the range for trips outside the neighborhood.  Biden and Harris are totally unrealistic about their move to force people into EVs.

See also:

Ford Shrinks Its EV Rollout Plans as Demand Lags

Automaker cancels large electric SUV and expects to take $1.9 billion in related special charges and write-downs

Americans don't want what the Democrats are trying to sell. 

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