Speaker Nancy Pelosi, Rep. Ro Khanna (D-Calif.), other top Dems own
stock in nonunion Tesla even as they push targeted tax subsidies for
union-made electric vehicles.
These same Democrats are simultaneously pushing legislation that would provide bonus tax credits for EVs built by union labor - and thereby make EVs built by Tesla and other nonunion companies thousands of dollars more costly for consumers.
Last year, Democrats included tax credits of up to $12,500 for vehicles made in the U.S. by union workers in President Biden's Build Back Better Act, a mammoth climate and social spending bill.
Specifically, the bill would grant up to $7,500 in tax credits for buyers of plug-in EVs made anywhere and an extra $500 if the vehicle's battery is made in the U.S. The controversial part is an additional $4,500 tax credit if the vehicle is built domestically with union labor.
"Every aspect of the Democrat agenda has stood in stark contrast with reality, and the EV tax credit proposal is no different," said Ferguson.
Toyota executives wrote the measure is "Discriminating against American autoworkers based on their choice not to unionize." Tesla CEO Elon Musk called Biden a "Puppet" of the United Auto Workers, which collaborated with the Democrats who wrote the tax credit.
Democrats supporting the $4,500 bonus tax credit argue foreign auto makers have union contracts in their home countries but gain an edge on costs by not having them at their U.S. factories.
"We shouldn't use everyone's tax dollars to pick winners and losers. If you're a capitalist economy that we are in society then you let the product speak for itself." Despite little prospect of passing the Build Back Better Act in full through the Senate, House Democrats and left-wing groups are now pushing Biden to move ahead with the $555 billion in climate change investments that make up part of the bill - including the EV tax credits.
No comments:
Post a Comment