National Economic Council Director Larry Kudlow on Monday said the White House wants to put an end to subsidies for electric cars and renewable energy sources.
Under federal law, consumers who purchase plug-in electric vehicles receive tax credits worth $2,500 to $7,500, and "as a matter of our policy, we want to end all of those subsidies," Kudlow said. "And by the way, other subsidies that were imposed during the Obama administration, we are ending, whether it's for renewables and so forth." The plan is to end the subsidies by 2020 or 2021, he added.
Subscribe to The Week
Escape your echo chamber. Get the facts behind the news, plus analysis from multiple perspectives.
Sign up for The Week's Free Newsletters
From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.
From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.
-
Today's political cartoons - February 23, 2025Cartoons Saturday's cartoons - loser's game, unexpected consequences, and more
-
5 slow on the draw cartoons about Democrats' response to TrumpCartoons Artists take on taking a stand, staying still as a statue, and more
-
A road trip through ZimbabweThe Week Recommends The country is 'friendly and relaxed', with plenty to see for those who wish to explore
-
Microsoft unveils quantum computing breakthroughSpeed Read Researchers say this advance could lead to faster and more powerful computers
-
TikTok's fate uncertain as weekend deadline loomsSpeed Read The popular app is set to be banned in the U.S. starting Sunday
-
Appeals court kills FCC net neutrality ruleSpeed Read A U.S. appeals court blocked Biden's effort to restore net-neutrality rules
-
Judge rejects Elon Musk's $56B pay package againSpeed Read Judge Kathaleen McCormick upheld her rejection of the Tesla CEO's unprecedented compensation deal
-
DOJ seeks breakup of Google, ChromeSpeed Read The Justice Department aims to force Google to sell off Chrome and make other changes to rectify its illegal search monopoly
-
Racist texts tell Black people in US to prepare for slaverySpeed Read Recipients in at least a dozen states have been told to prepare to 'pick cotton' on slave plantations
-
Australia proposes social media ban before age 16Speed Read Australia proposes social media ban before age 16
-
FTC bans fake online product reviewsSpeed Read The agency will enforce fines of up to $51,744 per violation
