Last Thursday Joe Biden posed for a photo op with representatives from automobile manufacturers. They gathered there to mark the Biden administration’s plan to raise the miles-per-gallon standard that gasoline powered vehicles must achieve––52 MPG by 2026. The compensation for automakers will comprise more regulatory credits for carmakers and subsidies for electric vehicle (EV) consumers, which will lead to higher prices for trucks and SUVs to offset their losses on EVs. This means consumers of those popular vehicles will be subsidizing EV drivers. And more taxpayer money will go to increasing available electricity, providing more and faster charging stations, and improving battery capacity.
