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.
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