“Cash for Clunkers” is about to get 60 times clunkier and not a single bit more effective.
Proving learning from history just isn’t his bag, President Joe Biden has resurrected one of the more infamous bits of Obama-era stimulus failure as part of his electric vehicle program, per an April 7 Washington Examiner report.
I’d say it’s a turbocharged “Cash for Clunkers,” but turbochargers require internal combustion engines.
The proposal is still in the nascent stages, the Examiner reported, but it’s based on Senate Majority Leader Chuck Schumer’s 2019 proposal to spend a whopping $392 billion on vouchers for Americans who traded in a gas-powered vehicle that was at least eight years old and bought an American-made all-electric or plug-in hybrid vehicle.
Under that plan, the vouchers would start at $3,000, with more money being doled out based on the range of the vehicle the consumer bought and if the purchaser