President Joe Biden announced plans on Wednesday to require that two-thirds of all U.S. car sales by 2032 be electric vehicles and impose the “strongest-ever” emissions restrictions on gas cars. Like much of the Biden green agenda, the proposals stand to raise costs for everyday Americans while swelling profits for Democrat megadonors.
A recent CNBC survey found that 58% of Americans are currently living paycheck to paycheck, and 70% feel financially burdened due to inflation, rising interest rates and more. At the same time, the average cost for an EV as of February was around $58,385, according to CarEdge.
Cars are already more expensive than ever. Average monthly payments for new vehicles hit a record high of $730 in the first quarter of 2023, a more than 11% increase year-over-year. As more Americans are pressured into buying EVs, increased demand will only drive those prices higher, prompting responses from Republican lawmakers on behalf of consumers.
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