By now, most Americans should know that Biden’s new tax and spending bill isn’t going to help them.
Any “relief” in the bill comes in the form of perks only rich liberals can afford. That includes a large tax credit for anyone who buys a new electric vehicle.
But before the bill is even signed into law, Ford and GM raise their prices by the exact same amount.
From Daily Wire:
Citing “significant material cost increases and other factors,” Ford’s announcement revealed price hikes between $6,000 and $8,500 for its electric vehicles. The F-150 Lightning Pro, for example, will sell for $46,974 — a $7,000 increase from the $39,947 charged for last year’s model. GM likewise increased the cost of its electric Hummer by $6,250 last month.
The price hikes are comparable to the $7,500 tax credits for new electric vehicles included in the $740 billion Inflation Reduction Act.
Isn’t this hilarious? Joe Biden and his administration have repeatedly spilled the beans on why they haven’t worked to lower gas prices.
They have sat back and let prices rage, expecting all of us to go buy electric cars. This, despite the fact that EVs cost much more than the car you already own.
Biden claims he was going to “help” us by extending a $7,500 tax credit to anyone who buys a new EV.
Of course, only rich people will benefit from that, since only they can afford a brand new car… in the middle of a recession.
But even those hard-working Americans who scrimp and save, hoping for the day they can purchase an EV—we have bad news.
Ford and GM—two top car manufacturers—announced they are raising the prices of their EVs.
How much? Just as much as the tax credit Biden was going to “give” you!
The vehicles will cost somewhere between $6,000-$8,500 more than they are right now. The companies claim this is because of “significant material cost increases.”
M-hm. That means the supply chain and computer chip shortage—both problems Biden failed to address over a year ago (though he knew about them).
So, Biden’s own failures are wiping out any attempts by Democrats to “help” Americans.
Sounds about right.
- Biden’s $7,500 EV tax credit will be wiped by out price increases for cars.
- Ford and GM announced price hikes for EVs between $6,000 to $8,500.
- This tax credit was one of many perks for the rich in Biden’s new spending bill.
Source: Daily Wire