New Jersey’s electric vehicle mandate is bad economics. Here’s why

Another costly and ineffective market disruption.

In yet another misguided attempt to make the Garden State “greener,” the New Jersey Department of Environmental Protection (DEP) recently proposed a regulatory rule that would ban the sale of new gasoline-powered vehicles by 2035. Constituents and consumers alike should be wary of this clumsy attempt by policymakers to plant New Jersey’s flag as the preeminent supporter of electric vehicles.

New Jersey’s move raises questions about the government meddling in the market while pushing policy agendas over consumer freedom and consumer choice. Despite $30 million in annual taxpayer subsidies through New Jersey’s Drive Green program the Garden State only has 31,000 zero emissions vehicles on the road as of June last year.

The fact is electric vehicles are too expensive for average families. Limiting consumer choice to only electric vehicles may price people out of cars altogether (perhaps a secondary goal of such a mandate) or force them to pay more money for something they don’t want.

According to research from Quartz, the average price of a new electric vehicle is significantly higher than a new gasoline powered vehicle. Families who are barely struggling to make ends meet due to the economic disruptions of…