The Daily Signal is reporting that thanks to more government regulations (courtesy of the Environmental Protection Agency) a new car will cost you at least $3.800 more (even after fuel economy is considered).
The article reports:
When Congress and the Obama administration passed and implemented extremely strict fuel economy regulations, the Environmental Protection Agency (EPA) claimed that it would save consumers a few thousand dollars on gas and only add $948 to the price of a new car.
Three teams of independent economists and engineers went up against the EPA’s analysts—finding much larger costs and smaller benefits. The most modest of the independent estimates works out to $3,800 per vehicle, even after the fuel savings are taken into account.
The chart below is included in the article:
The article concludes:
In a recently released Heritage Foundation research paper, we’ve compared the recent price trends to the scholarly predictions, and found that if U.S. vehicle prices had followed one of the comparable trends, cars would be between $3,975 and $7,140 cheaper today than they are. This massive expense buys very little change in global warming: less than two hundredths of a degree according to the Obama administration’s own estimate.
Congress should scrap Corporate Average Fuel Economy (CAFE) standards entirely—they cost consumers dearly while having a negligible impact on carbon emissions. Failing that, a new administration can freeze the standards at 2016 levels to prevent the Corporate Average Fuel Economy tax from doubling by 2025, as the Obama administration has planned.
It is time to get back to the concept of laws made by Congress outlined in our Constitution, so that we can hold our lawmakers accountable. The EPA and similar organizations have become the fourth branch of government, and they need to be put out of business.