Even as House and Senate Democrats look to further subsidize electric vehicles, the New York Times admits the cars “remain largely the province of the rich.”
Senate Democrats recently passed their “Inflation Reduction Act” on a party-line vote, a plan that is estimated to eliminate nearly 30,000 American jobs and includes subsidies for consumers to buy electric vehicles.
The subsidies come as the average cost of an electric vehicle has hit $66,000 — a 13 percent increase compared to the same time last year. Today, the average price of a Tesla electric vehicle is nearly $69,000, a cost far out of reach for the nation’s working and middle classes that continue to be squeezed by inflation.
After the passage of the Democrats’ deal, the New York Times admitted that the subsidies for electric vehicles are unlikely to help most working- and middle-class Americans, instead giving a boost to upper-middle-class and wealthy Americans who are most likely to be able to afford electric vehicles.