Trump Administration Wants To End Subsidies For Electric Cars, Renewables (reuters.com)

White House economic adviser Larry Kudlow said on Monday that the United States wants to end subsidies for electric cars and other items including renewable energy sources. "Asked about actions planned after General Motors announced U.S. plant closings and layoffs last week, Kudlow said he expected subsidies for buying electric cars will end in 2020 or 2021," reports Reuters. "Kudlow said the Trump administration will end other subsidies, including on 'renewables.'"

Comments

Re:So?

[LynnwoodRooster]

First off, they are not subsidies - they are deductible expenses. Much like salaries, leases, and IT costs are deductible by all businesses. That comes from gross revenues, and as these are business expenses related to running the business, they are deductible against your taxable income (you spend the money, but you're not taxed on that money).

Secondly, all these deductions have direct analogies in other industries, they just may have different names (exploration and development is basic R&D, for example).

Now, if you want to talk subsidies, ask the EIA. You'll see that rather than subsidies, fossil fuels receive basically zero dollars (between coal and natural gas). Biofuels, solar, and wind get about $5.2 billion. Far from fossil fuels being subsidies, the Federal Government dumps billions in that "cheaper renewable" power and gives zero to fossil fuels.