The Biden administration’s push for electric vehicles is exacerbating the country’s inflationary woes by driving up the price of auto insurance, Breitbart Economics Editor John CarneyKudlow noted that the Biden administration’s new environmental rule aimed at eliminating gas-powered vehicles is “inflationary” in practice.
“So, you’re going to see that auto insurance number keep climbing,” he continued. “I’m told by people in auto insurance that that’s been one of the drivers of why auto insurance inflation is so high because it’s so much more expensive to repair a car today than it was 10 years ago.
Biden’s latest EV ruling follows former President Donald Trump’s dire warning about China’s efforts to destroy the U.S. auto industry in a “bloodbath” if the Biden administration allows the communist regime to bypass tariffs and flood the U.S. market with cheap EVs.