Biden EV Tax Credit And The End Of Traditional US Automakers

President Biden is proposing a $12,500 tax credit for every US EV made by a unioin shop. The credit drops to $7,500 for non-union shops which includes Tesla.

In this video I discuss how Biden is trying to prop up companies that are going bankrupt. With more than $100 million in debt, Ford and GM are going to have to spend tens of billions to start producing EVs. This will eat into their ICE vehicle profits. We are watching them on the path to another bailout before going out of business.