Vice President Harris has frequently said she would build a “strong middle class” if elected, even as the Biden administration pushes for electric vehicle mandates, but one economist says this is unlikely to be the case. said it was inconsistent with the views of middle-class Americans.
“I believe we need to grow the middle class and make sure the economy works for everyone, including the people in the neighborhood I grew up in and the hardworking Americans I meet every day across the country,” Harris said at a campaign event. ” In September. “If we invest in things that strengthen the middle class, like manufacturing, housing, health care, education, small businesses, and communities, we grow our economy and promote the success of our entire nation.”
After becoming the Democratic presidential nominee, Harris said she did not support imposing electric vehicle mandates. But the Biden-Harris administration is now pushing policies that economists say are not realistic for the middle class.
“The facts alone show that middle-class people are rejecting EVs. There are many reasons why this is the case and why the trend is shifting towards EVs, one of which is cost. is an $80,000 car,” Stephen Moore, an economist and senior visiting fellow in economics at the Heritage Foundation, told Fox News Digital.
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Vice President Harris appears at the Brandywine Maintenance Facility in Brandywine, Maryland, on December 13, 2021. (Michael Reynolds)
In March, the Environmental Protection Agency (EPA) released a final rule under the Clean Air Act. new emission standards This will require up to two-thirds of new car sales to be electric vehicles by 2032. The new standard will affect “light-duty vehicle manufacturers, independent commercial importers, alternative fuel converters, and medium-duty vehicle manufacturers and converters.” Follow EPA's final rule.
The rules give up to $7,500 in tax credits for qualifying purchases, but Moore said that even with the tax credits, EVs are “still over the edge.” [middle-class Americans’] price range. ”
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“The idea of forcing people to buy cars that cost $75-$800,000-$90,000 is going to mean that many Americans won't be able to afford a car if we continue with this mandate,” he said.
Moore added that the Biden-Harris administration will be responsible for the bill, which the House voted to block in September, and will make it harder for the middle class to buy cars.
On April 17, 2023, Vice President Harris tours the Los Angeles CleanTech Incubator. (Eric Thayer)
“EVs are cars that wealthy people can buy, but in most cases middle-class people can’t afford.Eventually there is a mandate that 65% of cars be EVs, but in reality only half of that is. “That means there will be a shortage of gas-powered cars that middle-class people can afford,'' Moore said in an interview on FOX News Digital.
According to car appraisal firm Kelley Blue Book, the average price of an electric car will be more than $56,000 as of September 2024.
According to the U.S. Census Bureau through Federal Reserve Economic Data (FRED), the average middle-class American earns two-thirds or twice the national median household income of $80,610. . Considering current median incomes, today's middle class income ranges from approximately $53,000 to $160,000.
Capital One's electric vehicle pricing analysis reports that purchasing an EV is “out of reach for those who take home less than approximately $120,000 per year,” based on the U.S. Census Bureau through FRED averages. , most of the middle class is excluded from eligibility.
Recent research shows that most middle-class Americans are not currently considering purchasing an electric vehicle.
Drivers charge their Teslas in Fountain Valley, California on March 20, 2024. (Jeff Gritchen)
A Gallup poll released in April found that only 5% of middle-income Americans own an electric car, and 44% are not considering buying one. An additional poll released in June by Pew Research found that three in 10 Americans are seriously considering buying an electric vehicle.
“Why are EVs practical for everyone (not just the middle class)? EVs offer a superior driving experience. They're quieter, smoother, and have much better acceleration.” John Higham of the Automobile Association Board of Directors argued. It is more practical for middle class people.
Higham pointed to charging as a key reason why not all households may be ready for electric vehicles.
“I think the most important thing is that EVs are more economical to drive. Notice I said 'could'. EVs can also be more expensive to drive, and we see a lot of the math leaning towards showing that later rather than demonstrating the former,” Higham said. he told FOX News Digital. “So if EVs are easier to drive and cheaper than gasoline cars, why aren’t they suitable for everyone? It comes down to charging. If it's not, then it's probably not.”
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Fox News Digital has reached out to the Harris campaign for comment.
