Democrats continue ‘Inflation Reduction Act’ deception

Electric Vehicle batteries come with a host of hidden costs to both the economy and the environment.

By Dexter Liu

USA ECONOMY – In advance of the mid-term elections the NC Democrats issued a press release touting Biden’s “accomplishments” – highlighting positive results from the passage of the “Inflation Reduction Act.” Titled “New Toyota EV Investment Highlights President Biden’s Work to Bring Back Manufacturing Jobs,” stated that Toyota plans to double its investment in a Triad-based plant to boost electric vehicle (EV) production. 

Governor Cooper had announced that Toyota will build its first North American battery plant in Randolph County and the new Democrat legislation is credited with enabling Toyota’s additional investments because of the $7,500 tax credits designed to incentivize the purchase of EVs. This law may create 350 new jobs in North Carolina, claimed the press release.

Of course, you’d expect Democrats to sing the praises of their President and that of Governor Cooper (who takes Biden’s lead to push for “going green and creating jobs”).  Perhaps a positive development in stark contrast to the mountain of calamity Democrats created the moment Biden stepped into the Oval Office less than two years ago?

For most of us living with skyrocketing inflation, pain at the pump, violent crimes ruining our cities, homelessness and the recession decimating our 401K accounts, it’s hard not to see this press release as a cynical ‘eye candy’ attempt to distract voters ahead of the mid-terms.

“Biden bringing back manufacturing, attracting investments and create jobs?” Forgive me but it sure sounds like “fairy dust and unicorns,” so let’s unpack this latest Democrat shiny thing. It’s hard to argue against creating jobs, but what kind of jobs are these, what are we funding, how sustainable are these businesses and what returns are we getting for our tax subsidies? 

In short, there are greater considerations beyond the hypothetical 350 jobs sound bite. Lest we should forget Obama’s Solyndra debacle –  a Green New Deal-like scheme that turned out to be a train wreck. Solyndra went bankrupt, cost taxpayers millions while solar energy insiders and Democrat donors profited.

No one is arguing Toyota isn’t a good investor, they clearly are, but Republicans voted against the bill not because they were against job creation (as the dishonest press release implied) but because they believe government should not be picking winners and losers. And why wouldn’t Toyota up the ante on their North Carolina battery plant especially when the Biden administration continues to pressure auto manufacturers to go all electric and shower them with incentives for doing so?

Democrats crafted this legislation requiring EV batteries to be manufactured in America using 40 percent U.S. sourced materials. Auto makers must qualify to benefit from the taxpayer funded $7,500 incentive for new EV buyers. Crafty indeed because they’re using our money to bribe car companies into making batteries here to make them look good politically so they could say Biden’s bringing back manufacturing. But the truth is, their green agenda is grossly flawed because EVs are simply not ready for prime time and will create tremendous problems that will only exacerbate the economic malaise Democrats created when they declared war on petroleum. Besides, if EVs are so great why does one need a $7,500 tax credit to hook buyers?

Despite numerous issues that plague EV adoption in the U.S. such as high costs, recharge times, battery replacement costs, over mining, materials shortages, supply chain issues, thermal runaway risks, recalls, charging infrastructure and power grid issues, etc. Biden and Democrats ignore them all and persist in their war on petroleum.

This despite the fact our conventional fueling infrastructure works independently of the electric power grid. IT IS FULLY PAID FOR! It built America and continues to serve our needs perfectly. Witness the recent passage of legislation in California, which bans the sale of gas-powered cars after 2035. Only EVs may be sold, and this with 17 other states contemplating adopting California’s insane policy. So why wouldn’t Toyota accept the generous subsidies offered by the Biden administration paid for by taxpayers to increase their North Carolina plant?

Ironically, it was Toyota that publicly stated they weren’t convinced EVs are the only solution for the future citing alternatives like hydrogen powered cars, for example. In fact, it’s fascinating how the liberal press turned on Toyota in unison, lambasting the company leadership for lacking the vision they once had when Toyota led the industry with the first successful hybrid, the Prius. 

Many even called Toyota an evil polluter that care nothing for the planet! Fascinating how the once darling of the green press is now a pariah because they dared to believe there are actually alternatives to EVs.

Republicans opposed the Inflation Reduction Act because it does absolutely nothing to reduce inflation. To the contrary, according to the non-partisan Congressional Budget Office, it will exacerbate the already painful inflationary spike in America – the worst since Carter was president four decades ago. Fact is, this is a “Green New Deal” bill which makes taxpayers pay for an utterly unsustainable, grossly ill-conceived, and patently unaffordable boondoggle. 

Biden and Democrats are making us fund their Green New Deal Utopia with money we don’t have and debt we can ill afford. Their out-of-control spending will compound this inflationary crisis and inflict even more pain. Not only is this legislation massively deceptive and dishonest, its failure will also further devastate the lives of hard-working Americans and their families. Republicans voted against it because it’s just another typical Democrat bait and switch.

Consider the following shocking statistics:

“California leads the U.S. in the adoption of electric vehicles accounting for 38.9% of all EVs registered nationwide. That represents, however, less than 2% of all vehicles on the road in California.” Second is Florida: 6.7%  Third is Texas: 5.4%  Fourth is Washington: 4.4%   Fifth is New York: 3.6% (of all EVs registered nationwide).

Nationwide, just six-hundreths of one percent of all vehicles registered in the country are electric.

By the way, only days after California Governor, Newson signed into law the ban on the sale of gas-powered cars by 2035 (when only EVs can be sold), he pleaded with California EV owners to postpone charging their cars from 4:00 pm to 9:00 PM to help mitigate the rolling power outages across his state. Perhaps someone should remind the good governor that less than 2% of all the cars on California roads today are EVs, so what’s going to happen after 2035?

New York Post reported on Biden’s recent White House celebration of his “Inflation Reduction Act” even as the market plummeted nearly 1,300 points the same day. Biden, age 79, had classic folk rocker James Taylor kick off the White House South Lawn bash with his 1970 hit “Fire and Rain” — a song reportedly about suicide and heroin addiction — to belatedly celebrate passage of his Inflation Reduction Act spending bill.”

Save America, ladies and gentlemen, vote Republican this November. At least,  they have use of all their faculties.