It’s time to end Biden-era tax giveaways to wealthy coastal elites. The Democrat-passed and signed “Inflation Reduction Act” endowed the tax code with credits for electric vehicles and alternative home energy supply.
But data shows that the people buying electric BMWs and installing solar panels are among the top earners in the country. Americans who make more than $200,000 per year are hardly the population who should benefit from tax credits, according to the Democrats’ own arguments. These tax credits are incredibly expensive, distortionary, and primarily benefit wealthy coastal elites.
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