Ohio Senator-elect Bernie Moreno said the $7,500 EV tax credit should be eliminated and instead let the automakers and consumers decide what cars to buy.
Bernie Moreno, the former car dealer who is now the Senator-elect in Ohio, is looking to establish himself as the"car czar" in the Senate under the second Trump administration.
"At the end of the day, the $7,500 incentive is catastrophically stupid," Moreno told CNBC D.C. Correspondent Emily Wilkins at the 2024 CNBC CFO Council Summit in Washington, D.C., on Wednesday. "If you don't care what kind of car they drive, then let the markets work," Moreno said."We're going to let the marketplace decide what kind of cars people should drive, and if it's electric, great.". He said that if China is"dramatically ahead of us on EVs – good for them; we're dramatically ahead of them in terms of combustion and hybrids."
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