Last week, President Biden signed an executive order calling for sales of electric, fuel-cell and plug-in hybrids to account for 50% of car sales by 2030. This, of course, has very little authority and consequences for missing the target are just as meaningless.
According to Fox News, “Because it is voluntary, auto makers could still backtrack on their commitments, as they have done before. Congress has taken some of the tax credits and spending that the industry says it needs out of a pending bipartisan infrastructure package, leaving it for Democrats to consider another spending bill that faces high hurdles to passage.”
Most automakers agree the target is possible, but only if Congress opens up their purse. Billions of dollars are needed to build out a network of EV charging stations across the country.
The Wall Street Journal points out the obvious: “Big Business colluding with Big Government to grab subsidies and raise consumer prices.”
The goal is both lofty and expensive. So who benefits? Turns out, Biden’s buddies.
“It seems very relevant that one of General Motors’ lobbyists on electric cars is Jeff Ricchetti of Ricchetti Inc. Ricchetti’s brother, and the co-founder of the Ricchetti Inc. lobbying firm, happens to be Steve Ricchetti, the White House senior counselor,” The Washington Examiner reports.
Subsidizing electric car manufacturing also puts money in the pockets of General Motors and Ford, who donated a combined $750,000 to Biden’s inaugural committee.
