02-09-2024, 12:21 PM
Quote:The Biden administration is classifying some of the nation's most elite locales as "low-income," making the areas eligible for the administration's electric vehicle (EV) charger subsidy programs.
This includes some of America's most wealthy zip codes and luxury travel destinations, such as Martha's Vineyard and Nantucket in Massachusetts, Montauk and Fishers Island in New York, and Beverly Hills in Los Angeles, California, the Daily Caller reports.
The EV charger tax credit program is designed to direct subsidies to "low-income" or "non-urban" regions of the United States. The emphasis on eligibility based on "low-income" status is consistent with the Biden administration's broader objective of "environmental justice," which essentially merges green policy and social justice ideology. This program was made possible by the Inflation Reduction Act (IRA).
A key pillar of the Biden administration's electric vehicle (EV) agenda is the expansion of a nationwide charging network; however, the current charging infrastructure is predominately in affluent, densely populated coastal areas. The tax credit program is intended to mitigate the financial burden associated with the construction of superchargers in less-wealthy, non-urban regions of the country, however, these areas are less likely to use them, thus making the installments less probable.
An area must have a poverty rate of 20 percent or higher in order to qualify as "low-income" on the census tract. An area may also qualify if the median family income is less than 80 percent of the median family income in the broader metropolitan area or its state, according to the Internal Revenue Code.
Nevertheless, by virtue of their location in an affluent state or metropolitan area, locations that may not be notably "low-income" can qualify for the credit due to the latter definition of "low-income," Daily Caller reports.
For instance, according to the DOE's interactive eligibility map, nearly half of Nantucket Island, one of the most affluent summer vacation destinations frequented by the elite of New England, is eligible for EV charger subsidies.
The DOE's map also designates Martha's Vineyard, which is home to former President Barack Obama $11.7 million estate and frequented by the elite of New England, as a "low-income" area. However, data shows that numerous residences within the surveyed region are appraised at $1 million or higher in value, while a number of properties are valued at approximately $2 million to $5 million.
Significant regions of Cape Cod, an additional affluent area, also qualify as "low income."
Additionally, the Biden DOE classifies all of Fishers Island, New York, as a "low-income" area that is eligible for subsidies. This island has been described by the Wall Street Journal as "an exclusive enclave where generations of affluent families congregate to sail and golf." Some of the nation's wealthiest families, like the Roosevelts, Rockefellers, and DuPonts, have vacationed on Fishers Island, per the New York Post.
A significant portion of Montauk, an upscale Long Island vacation destination frequented by the affluent of New York City, is also eligible for "low income" EV recharge subsidies through 2029, according to the DOE's map.
The Daily Caller reports that a number of property values in the "low-income" district of Montauk are astronomically high. One residence is listed on Zillow for nearly $17 million. Another residence in the area is valued at just under $10 million by the real estate website, while another is worth over $6 million. A considerable number of additional residences in the vicinity, valued at over $2 million, are also qualified to receive EV charging subsidies.
According to the DOE's map, a pocket of Rehoboth Beach, Delaware, located mere miles from the vacation residence of President Joe Biden, is also eligible for the subsidies as a "low-income" zone.
Several affluent West Coast communities are categorized as "low-income" by the Biden administration, such as prominent areas in San Francisco and areas in one of the nation's priciest notable zip codes, Beverly Hills.
Link