Trump’s Proposal Will Raise Taxes on Working Americans to Give More Money to Big Oil CEOs

Trump blows off the American auto industry with plan to end tax credits that saved American consumers more than $1 billion this year

Washington, D.C. – Donald Trump’s transition isn’t wasting any time lining up proposals that will benefit Big Oil billionaires like Harold Hamm while hiking up costs for American consumers. According to Reuters, Trump’s transition team wants to end tax credits for Americans who purchase electric vehicles – which helped consumers save more than $1 billion this year. Last month, a trade group representing major automakers wrote a letter to Congress asking them to defend the credits – and argued they were critical to helping keep manufacturing jobs in the United States. 

In response to the news, Climate Power senior advisor for clean energy economy Jesse Lee released the following statement: 

“Just days into his transition, Donald Trump is selling out the American auto industry and hiking up costs for consumers to help his billionaire supporters get richer. The tax credits he wants to put on the chopping block benefit American car-buyers, workers, and manufacturers – and just this year they’ve saved Americans more than $1 billion up front right at the car dealership. The tax credits have helped businesses grow their manufacturing right here in the United States, bringing good-paying jobs to communities across the country – and this is just his first step in forfeiting the future of auto manufacturing to China.”

This isn’t the first time Trump’s ceded manufacturing jobs to China. During his first term, the U.S. auto industry lost more than 86,000 jobs, as President Trump allowed China to race ahead in the industries that will dominate the economy for decades to come.