Holman W. Jenkins, Jr. of The Wall Street Journal reports on Biden’s EV policy errors.
- The Biden administration has looked to jumpstart the EV industry with generous subsidies and tax breaks.
- Several studies show that subsidies are an inefficient tool to reduce emissions and, in the case of EVs, they tend to be almost exclusively by wealthy households that were going to purchase an EV already.
- Rather than subsidies and preferential treatment, policymakers should reduce barriers and allow consumers to dictate the rate of EV adoption.
“In fact, a 2013 congressionally sponsored National Research Council study, led by the father of climate economics and future Nobel laureate, Yale’s William Nordhaus, concluded that green handouts and tax breaks are ‘a poor tool for reducing greenhouse gases and achieving climate change objectives.'”
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