Several recent reports say that President Biden’s new EV mandates will likely amount to a sizable wealth transfer from the poor to the rich, and from rural red regions to urban, blue, Democrat-voting districts.
On March 20, the Environmental Protection Agency (EPA) finalized its tailpipe emissions rules for the auto industry starting in 2027. These rules are the strictest in history and will effectively force carmakers to have one-third of new car sales be plug-in electric vehicles (EVs) by 2027 and more than two-thirds be EVs by 2032.
