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 - December 21, 2024Cartoons Saturday's cartoons - losing it, pedal to the metal, and more
-
Three fun, festive activities to make the magic happen this Christmas DayInspire your children to help set the table, stage a pantomime and write thank-you letters this Christmas!
-
The best books of 2024 to give this ChristmasThe Week Recommends From Percival Everett to Rachel Clarke these are the critics' favourite books from 2024
-
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
-
States sue TikTok over children's mental healthSpeed Read The lawsuit was filed by 13 states and Washington, D.C.
-
Amazon ending 'Just Walk Out' grocery checkoutSpeed Read In its place, the company will let customers scan while they shop with Amazon Dash Cart
-
Justice Department bites Apple with iPhone suitSpeed Read The lawsuit alleges that the tech company monopolized the smartphone industry
