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Elon Musk spoke out against President Joe Biden’s plan to grant subsidies to new electric vehicle (EV) owners. He feels the government should not get involved as it only adds to the national deficit.
The Build Back Better Act will fund vehicle-charging stations and allocate subsidies to EVs built by union workers. The bill is part of the president’s Build Back Better Plan to reinvigorate the economy and bring it back to pre-pandemic levels.
The plan also includes the $1 Trillion Infrastructure Bill recently signed into law. The bill attempts to increase EV interest with up to $12,500 in tax incentives. It would also bring back the $7,500 credit for Tesla. Musk thinks the entire social and climate spending bill should be thrown away.
“Don’t pass it, that’s my recommendation.” Tesla cars are currently not being built by union employees, and Musk thinks the company is doing well without the credit.
Musk also believes the government does not need to provide funding for EV charging. He cited the lack of support for gas stations as a reason and thought oil and gas subsidies were also unnecessary.
In general, he feels the role of the government should be limited when it comes to EVs. However, he is not opposed to all government involvement and is not an “extreme libertarian.” He does see the use of federal spending going toward space travel.
As Musk sees it, the impending reality is that self-driving cars will crowd the highways very soon. He describes them as “one of the biggest transformations ever in human civilization.” Still, he thinks they will ultimately increase traffic in the future. Tesla is yet to produce its autonomous vehicle that is in development. When it does, Musk hopes both double-decker highways and tunnels built by The Boring Company will help with the traffic problem.
Written by Chiagozie Onyewuchi
Edited by Cathy Milne-Ware
CNBC: Elon Musk slams Biden’s plan to spend government money on electric vehicles; by Jessica Bursztynsky
Featured and Top Image Courtesy of Steve Jurvetson’s Flickr Page – Creative Commons License
Inset Image Courtesy of Tony Webster’s Flickr Page – Creative Commons License