Original text too short.
Musk is probably right, eliminating the $5.9 trillion per year in subsidies for fossil fuel would do more for the taxpayers and sustainability than EV tax credits.
5 thoughts on “Musk is probably right, eliminating the $5.9 trillion per year in subsidies for fossil fuel would do more for the taxpayers and sustainability than EV tax credits.”
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Why not both?
But then, teslas arent eligible for the tax credits are they now?
Keep the tax credits AND cut fossil fuel subsidies.
If they eliminate the subsidies, and redirect 0.6% that money towards the now diminishing revenue from the fuel tax, it would cover the difference from the missing fuel tax from EVs, it would 100% cover the missing revenue for EVs not using gasoline and eliminate the need for a federal fuel tax. ($36.4 billion raised in federal fuel tax in 2016 according to wikipedia: https://en.wikipedia.org/wiki/Fuel_taxes_in_the_United_States)
Even better: vehicles under $35k are rebates. American-made vehicles are eligible for even more rebates. No tax credits since the poor don’t reap that whole benefit and because it isn’t immediate enough.
Why $35k? So EV prices drop and affordable options come to the market. These affordable options can have smaller battery packs that serve a vast majority of people in a vast majority of instances.
That number is not real.