Editorial Cites Hohman on Chevy Volt Subsidies

An editorial in Tuesday’s Investor’s Business Daily cites James Hohman, assistant director of fiscal policy, and his analysis that each Chevy Volt sold has cost taxpayers up to $250,000 in the form of subsidies, tax credits and other corporate welfare.

IBD also notes that the Obama administration wants to increase the subsidy for people who purchase electric vehicles from $7,500 to $10,000, and that the average annual income for Volt buyers is $170,000.

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Russ Harding, former senior environmental analyst, addressed this in 2010, noting “The ruling political class has determined that people who may not be able to afford a new car of any kind should subsidize affluent buyers of electric cars.”

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