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IPFS News Link • Economy - Economics USA

Have Fun Staying Poor: Washington Announces $45 Million Subsidy For Low Income Families...

•, by Tyler Durden

Just when you thought you've already witnessed a lifetime's worth of examples of the government being excellent capital allocators with your tax money, one more shining example comes along. 

Last week it was reported that Washington Governor Jay Inslee has announced $45 million worth of subsidies that is going to allow "low income" families to purchase an electric vehicle. 

The initiative offers families the opportunity to receive financial assistance for either leasing or purchasing electric vehicles, with up to $9,000 allocated for leasing and $5,000 for purchasing, according to Must Read Alaska.

The program is open to individuals earning 300% or less of the federal poverty level and extends to both new and used EVs. Approximately 9,000 people can benefit from the grant, with the potential for either 9,000 individuals to opt for the $5,000 deal or 5,000 individuals for the $9,000 option.

"Washingtonians really get it when it comes to electric vehicles," Inslee said at a press conference last week. 

Governor Inslee characterized the initiative as a means to "democratize EVs," emphasizing a broader goal of advancing the electrification of transportation. He expressed optimism about widespread adoption, anticipating significant participation and benefit from the program.

However, the program has faced criticism, notably from Washington Policy Center Environmental Director Todd Myers. Myers contends that the subsidies fail to effectively curb carbon emissions and represent a misallocation of taxpayer funds that could be better utilized for other environmental priorities like (we swear we are not making this up) salmon recovery.

Hey Todd, two wrongs don't make a right! But we digress. Despite the controversy, the grant funds are slated to become available to eligible low-income residents in August.