It’s no secret that regulation hits the poorest Americans the hardest. Academic research has long demonstrated that environmental regulations impose a higher cost on low-income Americans than they do on the general population.
The phenomenon is most visible in the automobile sector, where the average price for a new car was $48,008. Even the least expensive new cars available in 2023 averaged over $20,000. With a third of American households earning under $50,000 per year and nearly a quarter earning less than $35,000, a new car is out of reach for too many American families.
Of course, nothing in the Constitution gives Americans the right to have a new car. Some goods are just expensive. A midrange Rolex also costs around $20,000, and no one would argue that every working American should be able to afford a Rolex.
But cars are different for two reasons. First,…
