TRENTON, N.J. – By 2040, Gov. Phil Murphy wants 85% of vehicles purchased or leased in New Jersey to be electric. Despite the hype, EVs account for less than 2% of registered vehicles in the state today. That’s because the vehicles and their maintenance are cost prohibitive for everyone except the wealthiest residents, but Murphy believes he can entice buyers with a $4,000 taxpayer-funded subsidy. So that new Tesla Model 3 will only set someone back $33,000, but taxpayers $15 billion.
Assembly Republicans crunch the real numbers in their latest episode of “<Three.”
David Harkness, a legislative analyst at the Assembly Republican Office in Trenton, argues that Murphy’s plan not only takes away consumer choice, but saddles lower- and middle-class families with the bill for cars they can’t afford.
Watch more videos in the <Three series on the Assembly Republican Office’s YouTube channel.