Subsidies for Electric Vehicles Favor the Wealthy

Electric vehicles are heavily subsidized by the federal, state, and local governments. Based on a study I just completed, the federal subsidies for electric vehicles are worth over $42.7 billion to their recipients over the lifetime of the programs. They include the federal grant and loan programs for manufacturers, and the consumer tax credits worth $7,500 per consumer. State and local governments also provide tax credits to purchase electric vehicles (up to $7,500 per consumer), subsidize investments in charging stations, and even offer perks such as access to HOV lanes, access to free vehicle charging, and free meter parking (in… [more]