Tags: schumer | forced | buyback | non | electric | car

Schumer Pushes Forced Buyback of Every Non-Electric Car

(Roman Romaniuk/Dreamstime)

By    |   Monday, 04 November 2019 10:50 AM

Senate Minority Leader Chuck Schumer wants to replace gas and diesel vehicles with those using clean, electric power.

Schumer has unveiled a three-part, $462 billion plan over a decade, that he hopes to pass into law if Democrats regain control of Capitol Hill following the 2020 elections.

If I understand this legislation correctly, it would FORCE every American to give up their current car, in favor of the U.S. taxpayer buying them a new electric car, 100% for free. WOW!

This is another push for the Green New Deal!

About $45 billion would be invested in the deployment of a nationwide public charging infrastructure

Another $17 billion would help fund the retooling of U.S. plants to produce batteries, EVs and hydrogen fuel-cell technologies.

Cash for Clunkers was the mechanism allowing the federal government to offer incentives of between $2,500 and $4,500 to citizens who traded in their older vehicles for newer ones. The policy received a lot of media play, but critics called the idea a failure even if it was designed with the best of intentions. This is another version of the same disastrous plan that costs taxpayers money and only a few will take advantage of it.

Under Schumer’s plan, car owners will get a rebate starting at $3,000 if they trade in their car for an electric vehicle, with the amount of rebate going up the longer the vehicle goes without recharging. The rebate could dramatically exceed the existing $7,500 tax credit for electric vehicles.

The plan would remove more than 63 million gas-powered cars from the road by 2030.

Do I have that right?

And this would cost five times the entire U.S. federal budget as it stood near the height of The Cold War, in 1960?

Where are you going to put the 260,000,000 registered gas-drinking vehicles?

We collect ‘em all and make a new artificial island off the coast of California and call it “Combustionland?”

The White House has proposed ending the current subsidies of up to $7,500 for buyers of qualifying battery-electric vehicles.

Existing incentives will phase out as automakers reach base sales thresholds. Tesla already saw the tax credits its customers can receive cut in half last January and then halved again in July. They will phase out entirely on Jan. 1, 2020. Nissan and General Motors are also expected to soon lose their federal incentives.

Not everyone can afford an even $20,000 car. So how they going to get to work?

This has inspired the Democrats to create another plan to give potential buyers an incentive to replace this program. But at what cost, this plan was poorly thought out. I’m sure you want to comment or criticize this horrible proposal.

Lauren Fix, The Car Coach® is a nationally recognized automotive expert, media guest, journalist, author, keynote speaker and television host. Post your comments on Twitter: @LaurenFix or on her Facebook Page.

© 2019 Newsmax Finance. All rights reserved.

   
1Like our page
2Share
LaurenFix
Under Schumer’s plan, car owners will get a rebate starting at $3,000 if they trade in their car for an electric vehicle, with the amount of rebate going up the longer the vehicle goes without recharging.
schumer, forced, buyback, non, electric, car
484
2019-50-04
Monday, 04 November 2019 10:50 AM
Newsmax Media, Inc.
 

Newsmax, Moneynews, Newsmax Health, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, and Newsmax World are trademarks of Newsmax Media, Inc.

NEWSMAX.COM
MONEYNEWS.COM
© Newsmax Media, Inc.
All Rights Reserved