Sunday, September 19, 2021
HomePatriot DispatchesChevy Volt: Costing Taxpayers $250,000 Each

Chevy Volt: Costing Taxpayers $250,000 Each

Holy cow.

Each Chevy Volt sold thus far may have as much as $250,000 in state and federal dollars in incentives behind it – a total of $3 billion altogether, according to an analysis by James Hohman, assistant director of fiscal policy at the Mackinac Center for Public Policy.

Hohman looked at total state and federal assistance offered for the development and production of the Chevy Volt, General Motors’ plug-in hybrid electric vehicle. His analysis included 18 government deals that included loans, rebates, grants and tax credits. The amount of government assistance does not include the fact that General Motors is currently 26 percent owned by the federal government.

The Volt subsidies flow through multiple companies involved in production. The analysis includes adding up the amount of government subsidies via tax credits and direct funding for not only General Motors, but other companies supplying parts for the vehicle. For example, the Department of Energy awarded a $105.9 million grant to the GM Brownstown plant that assembles the batteries. The company was also awarded approximately $106 million for its Hamtramck assembly plant in state credits to retain jobs. The company that supplies the Volt’s batteries, Compact Power, was awarded up to $100 million in refundable battery credits (combination tax breaks and cash subsidies). These are among many of the subsidies and tax credits for the vehicle.

The perfect confluence of government interference and the green movement: A dangerous car that no one wants which is less efficient than an ordinary Honda, yet the taxpayer subsidies alone for each vehicle would feed and provide health care for 600 children for an entire year.

Words cannot express my contempt for this administration and their fecklessness.

Queen Hotchibobo
I was born in Saginaw, Michigan, and I grew up in a house on Saginaw Bay. My daddy was a poor, hardworking Saginaw fisherman. Too many times he came home with too little pay. Naw, not really, but it sounds more interesting than the real bio, so there you are.

3 COMMENTS

Leave a Reply

3 COMMENTS

  1. Must-read article by Seton Motley on Big Govt on how much the GM bailout is really costing.

    https://biggovernment.com/smotley/2011/12/23/obamas-former-auto-bailout-czar-is-rewriting-history/

    He is talking about the ex car-czar Rattner and what he says in his book. Doing this guy’s math, the bailout could actually exceed $43 billion:

    In a recently published epilogue to his aforementioned tome, Ex-Czar Rattner acknowledged that about $19.4 billion of the coin the government put into GM before the 2009 bankruptcy is “lost money.”

    Wait a second.

    So is that $19.4 billion lost before the bankruptcy – plus $23.6 billion lost after the bankruptcy? For a whopping total taxpayer auto bailout loss of $43 billion?

    It would seem to be so. As the $19.4 billion pre-bankruptcy figure doesn’t figure in any divisible way into the Obama Administration’s before-and-after post-bankruptcy numbers.

    And it is obviously not reflected in the “$14 billion” Ex-Czar Rattner just fraudulently claimed the bailout would cost us.

  1. Must-read article by Seton Motley on Big Govt on how much the GM bailout is really costing.

    https://biggovernment.com/smotley/2011/12/23/obamas-former-auto-bailout-czar-is-rewriting-history/

    He is talking about the ex car-czar Rattner and what he says in his book. Doing this guy’s math, the bailout could actually exceed $43 billion:

    In a recently published epilogue to his aforementioned tome, Ex-Czar Rattner acknowledged that about $19.4 billion of the coin the government put into GM before the 2009 bankruptcy is “lost money.”

    Wait a second.

    So is that $19.4 billion lost before the bankruptcy – plus $23.6 billion lost after the bankruptcy? For a whopping total taxpayer auto bailout loss of $43 billion?

    It would seem to be so. As the $19.4 billion pre-bankruptcy figure doesn’t figure in any divisible way into the Obama Administration’s before-and-after post-bankruptcy numbers.

    And it is obviously not reflected in the “$14 billion” Ex-Czar Rattner just fraudulently claimed the bailout would cost us.

Must Read