Automakers Look to Pass Gambling Debts on to Taxpayers

WASHINGTON DC (2/12/25) – On the heels of President Trump’s announcement aimed at eliminating the $7,500 federal tax credit for electric vehicle purchases, news broke last night that automakers have hit Capitol Hill to lobby against the tax credit’s termination. 

 AEA President Thomas Pyle issued the following statement: 

“Automakers took a risk on electric vehicles that ultimately didn’t pay off, relying on government regulations and mandates to create a market that never materialized, as we predicted. When federal pressure failed to force consumers into unwanted products, the industry doubled down, trying to use California’s regulatory power to push EVs even harder.

“In the process, they ignored the interests of their workers, American consumers who ended up paying more for the cars they actually wanted, and their shareholders who expected returns. Now, they want American taxpayers to help cover their debts.

“These companies made their choice to partner with the government. It’s time they faced the consequences of putting politics ahead of the people.”

AEA Experts Available For Interview On This Topic:

• Tom J. Pyle, President

Additional Background Resources From AEA:

• When Government Chooses Your Car
• It’s time for the EV tax credit to be ended, not extended.

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