A plan to tax the rich to fund electric cars is on the ballot in California

TL;DR

The difference isn’t entirely along party lines While the proposal is backed by the state’s Democratic party, California Governor Gavin Newsom, a Democrat, has come out publicly against it.But a rule like Prop 30, which would make it easier for just about anyone in California to buy an electric car, including Lyft drivers.“And, so, they are really trying to get this right and they have been funding things.” While proponents of Proposition 30 point out that it provides a secure funding stream for electric vehicles, opponents say that’s not necessarily desirable and may, counter intuitively, not give electric car sales the boost backers are looking for.What that will do is take the pressure off the legislature and they’ll just fund it less.” Just as a family given money to buy, specifically, dairy products would probably just spend less of its own money on milk and butter, this law could end up not resulting in substantially more money for EVs.“I don’t know if there’d be a net gain,” Babcock said, “but it wouldn’t be as big as backers say.” And an additional 1.75% on income over $2 million might not sound like much – after all, these aren’t people scraping by on their meager salaries – but it would be taken by a state that already relies heavily on money from its wealthiest residents, Babcock said."

Like summarized versions? Support us on Patreon!