Even though the Democrats’ spending proposal has been slashed from $3.5 trillion to $1.75 trillion, its proposed big boost to electric vehicles in the form of large tax credits might also be opposed by Oklahoma’s Republicans in congress.
Rep. Markwayne Mullin argued in September against the Build More Inflation Act that it was a step closer to a complete socialist takeover by Democrats. Don’t look for him to support much about the Biden energy plan.
In his latest Mulling it Over with Mullin column, the GOP congressman wrote “Biden’s radical energy plan is costing Americans.”
“Included in President Biden’s tax and spend spree is a natural gas tax, or a “heat your home tax” as we Republicans like to call it. The Biden Administration and Democrats in Congress have repeated over and over that this bill will cost Americans “zero dollars.” If that is true, then why are we already paying record high prices at the pump and for electricity at home?”
It’s unclear if Rep. Tom Cole, who once supported extended tax credits for wind energy several years ago will oppose the latest plan to give electric vehicle credits of up to $12,500 per vehicle including $4,500 for union-made vehicles and $500 for U.S. made batteries.
Reuters reports the EV tax credits would cost $15.6 billion over the next decades and would also disproportionately help Detroit’s Big Three automakers—General Motors, Ford Motor and Chrysler-parent Stelannatis NV.
Click here for Reuters.