Have you noticed that new cars seem to be getting more and more expensive? You may not know the reason why, but Katie Tubb from the Heritage Foundation has examined this issue and explains some of the reasons behind this increase: “One major factor is the new federal fuel economy standards being imposed by the Obama administration. All auto manufacturers must reach an average 54.5 miles per gallon in their fleet by 2025. By the government’s own count, this will add $3,000 to the average cost of new vehicles. Efficiency is important to us all, but so are other things like safety and comfort. The government should not limit our choices and make us pay extra for things we don’t want or need through the backdoor of regulation.”
May 20, 2013 by David Rothbard,
David Rothbard is co-founder and President of CFACT.