While the world erupts into chaos, Joe Biden remains focused on his socialist agenda.
This includes his push to force all Americans into electric vehicles (EVs).
But Joe Biden blew a fuse after a shocking new report uncovered the real costs of electric vehicle mandates.
A massive first-of-its-kind analysis proves that electric vehicles (EVs) would cost even tens of thousands of dollars more than they already do if not for taxpayer-funded incentives.
Massive taxpayer bailouts are fueling the EV industry
Published by think tank Texas Public Policy Foundation (TPPF), the report shows that Biden’s use of taxpayer dollars may be the only thing propping up the EV industry.
The TPPF report was authored by renowned and respected energy experts Jason Isaac and Brent Bennett.
Their analysis showed that the average model EV made in 2021 would cost a shocking $48,698 more to own over a 10-year period without the massive $22 billion in taxpayer-funded handouts that the government provides to both EV manufacturers and owners.
The analysis includes taxpayer-funded federal fuel efficiency programs, electric grid strain, and direct state and federal subsidies.
“It is not an overstatement to say that the federal government is subsidizing EVs to a greater degree than even wind and solar electricity generation and embarking on an unprecedented endeavor to remake the entire American auto industry,” the report read. “Despite these massive incentives, EVs are receiving a tepid response from the majority of Americans who cannot shoulder their higher cost.”
“It’s time for federal and state governments to stop driving the American auto industry off an economic cliff and allow markets to drive further improvements in cost and efficiency,” it continued.
The report also showed that EVs receive approximately seven times more credits under federal fuel efficiency programs than they actually provide in fuel economy benefits.
That figure amounts to an average of $27,881 per vehicle in taxpayer handouts to EV makers.
A growing strain on the nation’s electric grid
Even worse for a nation already under economic strain, the analysis calculated the cost of EV charging stations on the U.S. electric grid amounts to an average $11,833 per vehicle over 10 years.
These costs are paid for by utility ratepayers and taxpayers, most of whom don’t even own an EV.
At a time when many Americans are being forced to choose between buying food for their families or their medication, these increased utility costs are a heavy load to bear.
But those concerns aren’t stopping state and federal tax dollars from being given to EV owners in the form of subsidies at an average of $8,984 per EV over 10 years.
“The stark reality for proponents of EVs and for the dreamers in the federal government, who are using fuel economy regulations to force manufacturers to produce ever more EVs, is that the true cost of an EV is in no way close to a comparable [internal combustion engine vehicle (ICEV)],” the report continued.
“Without increased and sustained government favors, EVs will remain more expensive than ICEVs for many years to come,” it stated. “Hence why, even with these subsidies, EVs have been challenging for dealers to sell and why basic economic realities indicate that the Biden administration’s dream of achieving 100% EVs by 2040 will never become a reality.”
As more and more problems arise with EVs, it’s time for the government to stop the mad dash to force them on all Americans.