Obama’s CAFE Standards Will Regulate Millions Out of New Car Ownership

President Obama’s campaign is all about class warfare. He wants to raise taxes on the wealthy, even though it will do nothing to help the economy. He tells us he’s the one looking out for the poor and middle class, yet his policies are keeping people unemployed while driving up the cost of living. He tells us his policies will bring down the cost of driving, but what good will that do if new cars are priced out of reach for millions of Americans?

“While you can mandate what automakers must build, you can’t dictate what customers will buy, nor can you dictate if a bank will make a loan,” New Mexico Ford dealer Don Chalmers said today.

Obama’s proposed CAFE standards, which will begin taking effect in 2017, raise minimum average vehicle fleet fuel efficiency to 54.5 mpg by 2025. The Environmental Protection Agency and National Highway Traffic Safety Administration estimate that this regulation will raise the average price of passenger cars and light trucks by $3,000.

“The unintended consequences of the proposed fuel economy increases are clear,” NADA Used Car Guide analyst David Wagner said. “If the price of a vehicle goes up by the government estimate of almost $3,000, millions of people will no longer be able to finance a new vehicle.”

Not only would Obama’s fuel efficiency regulations make it impossible for lower income Americans to afford new cars, but it will also increase deaths. The Heritage Foundations’s Diane Katz explains

Read the whole thing. Not only will these new CAFE standards increase the number of highway fatalities, it will be for nothing, because these standards won’t help the environment. And I wish people would stop saying “unintended consequences,” they know the consequences of their actions and they don’t care.