Bill Introduced to Extend Electric Vehicle Tax Credit

[Curt Renz]

Electrek - today: New bill to remove limit for $7.5k electric vehicle federal tax credit introduced as Tesla hits threshold

Ask those who represent you in Congress to actively support the bill. I did.

 

[Red5StandingBy]

Make sure to talk up the part about how this bill will prevent foreign auto makers from having a competitive advantage over US automakers (both GM and Tesla).

 

[slipnslider]

If find it very suspicious that this bill was introduced just now. If it had been introduced last week there would have been many reservation holders who might not have put down $2500 this past weekend. Lots of people wanted the SR, but only took the LR because of the full tax credit. Mass order is opened up to everyone, they say this 6/30 is the last day for free data, people jump on ordering for the free data and to get the full tax credit, they put down their non-refundable $2500, then the next week it turns out the tax credit might not expire? The timing is almost too perfect for tesla. Someone has been making some "campaign contributions."

 

[BluestarE3]

The chances of this being enacted are remote at best, so I don't see it as a conspiratorial move by Tesla to extend the deadline. Anyone making buying decisions based solely/primarily on the assumption that this proposed legislation will pass is fooling themselves.

 

[NewTMSMan]

Hahahahahahaha, oh wait that is serious? Show of hands of all that think Congress would pass this and Trump signs it?

It has been referred to the House Ways and Means Committee which is chaired by Kevin Brady of TX.... Enough said.

This is the same Kevin Brady who tried to has tried to eliminate the tax credit for electric vehicles - https://www.bizjournals.com/sananto...ngressman-seeks-to-undo-electric-vehicle.html

 

[Xminus6]

If find it very suspicious that this bill was introduced just now. If it had been introduced last week there would have been many reservation holders who might not have put down $2500 this past weekend. Lots of people wanted the SR, but only took the LR because of the full tax credit. Mass order is opened up to everyone, they say this 6/30 is the last day for free data, people jump on ordering for the free data and to get the full tax credit, they put down their non-refundable $2500, then the next week it turns out the tax credit might not expire? The timing is almost too perfect for tesla. Someone has been making some "campaign contributions."

I don't understand. Are you implying that Tesla somehow delayed the bill being presented to Congress to time it with the delivery of the 200,000th car to maximize deposits? That's a pretty weird takeaway from the timing. If anything, the fact that Tesla is about to hit the expiration limit might have incentivized some members of Congress to question the current tax incentive, but I doubt Tesla has much control over that.

I can't imagine Tesla's lobbyists have even a fraction of the power of the big auto manufacturers who would love to see the tax credit stay the way it is so they can benefit from the credit while Tesla buyers are paying full price.

 

[dhanson865]

If find it very suspicious that this bill was introduced just now. If it had been introduced last week there would have been many reservation holders who might not have put down $2500 this past weekend. Lots of people wanted the SR, but only took the LR because of the full tax credit. Mass order is opened up to everyone, they say this 6/30 is the last day for free data, people jump on ordering for the free data and to get the full tax credit, they put down their non-refundable $2500, then the next week it turns out the tax credit might not expire? The timing is almost too perfect for tesla. Someone has been making some "campaign contributions."

Only people that don't understand that the Tax credit is good until Dec 31 would be freaking out about Jun 30. No reason to rush putting in an order now in regards to the tax credit.

You could just as easily wait for Jul 30, Aug 30, Sep 30. Order any time between now and then and still get your car in time for the full tax credit. You might even get away with ordering in October and getting your car by December.

 

[ItsNotAboutTheMoney]

Never going to happen, and shouldn't happen.

 

[Joe F]

If find it very suspicious that this bill was introduced just now.

It’s just a bill, yeah it’s only a bill, and it’s sitting there on Capital Hill.

Where. It. Will. Die.

 

[FlatSix911]

Only people that don't understand that the Tax credit is good until Dec 31 would be freaking out about Jun 30. No reason to rush putting in an order now in regards to the tax credit.

You could just as easily wait for Jul 30, Aug 30, Sep 30. Order any time between now and then and still get your car in time for the full tax credit. You might even get away with ordering in October and getting your car by December.

InsideEV thinks differently ... Why We Believe Tesla Passed 200k U.S. Deliveries in June

 

[dhanson865]

InsideEV thinks differently ... Why We Believe Tesla Passed 200k U.S. Deliveries in June

Only if you have reading comprehension issues or just read the headline and not the article. All through that article they say something to the effect of:

sentence/fragment 1 saying "we usually go by X", and sentence/fragment 2 "but we aren't sure this time". Then they end with

Given the unusual circumstances, we are going to delay updating the sales scorecard for Tesla for a few days. Once we receive quarterly numbers from Tesla this week, we will compare them to our own and update the sales chart with our final numbers. We are hoping that they will provide guidance on whether they have passed 200,000 or not as well.

a more accurate headline would have been one of these

• We List Ways Tesla Could or Could Not Have Passed 200k U.S. Deliveries in June
  
• We Hope Tesla Didn't Pass 200k U.S. Deliveries in June
• We Aren't Sure if Tesla Passed 200k U.S. Deliveries in June

 

[RobStark]

I can't imagine Tesla's lobbyists have even a fraction of the power of the big auto manufacturers who would love to see the tax credit stay the way it is so they can benefit from the credit while Tesla buyers are paying full price.

GM started actively lobbying for this last December while Ford and FCA have stayed silent.

I can totally see Trump signing this if presented as equalizing the field between American GM and Tesla on the one hand and Nissan,Toyota,Honda,BMW, VW Group, Hyundai Kia, Mercedes on the other hand.

 

[alloverx]

Any new bill should be means tested or limited to cars costing under X. e.g. Double the average new car price which would be around $70K

 

[Phoenix1]

This would be awesome if it goes through. It seems unlikely to pass in the current political climate though.

 

[ItsNotAboutTheMoney]

GM started actively lobbying for this last December while Ford and FCA have stayed silent.

I can totally see Trump signing this if presented as equalizing the field between American GM and Tesla on the one hand and Nissan,Toyota,Honda,BMW, VW Group, Hyundai Kia, Mercedes on the other hand.

An easier solution would be to cancel the credit. That was passed by the House last year, and had some senate support as well.

I don't see them persuading the current administration to extend the credit and increase the deficit by x*$7.5k, and I don't see getting the House to vote for it. Plus, because there are a bunch of southern Republicans senators with foreign manufacturers in their state, it's hard to scrap or reshape the credit in favor of GM and Tesla as well.

But at this point, we really don't need more price support. We're at the point where at least the premium market will electrify anyway, and the structure is such that at any serious volume the credit ceiling would be hit quickly, and any manufacture that depends on it for sales volume is going to be in trouble.

 

[VT_EE]

I agree that the easiest solution is to cancel the credit or at least reduce it. It shouldn’t be had to pass something that incentivizes the purchase of American made vehicles.

 

[adaptabl]

I agree that the easiest solution is to cancel the credit or at least reduce it. It shouldn’t be had to pass something that incentivizes the purchase of American made vehicles.

You need to support other manufacturers in bringing electric technology out. Just as they did for Tesla.

 

[dgpcolorado]

You need to support other manufacturers in bringing electric technology out. Just as they did for Tesla.

Perhaps. However, after Tesla, Nissan and GM have already blazed the EV trail, the latecomers can just copy their efforts, take advantage of lower battery prices nowadays, and skip all the hard stuff.

The tax credit amount was reportedly chosen to be similar to the subsidies that oil and ICE cars get (externalities, for example). If so, why have it phase out at all?

 

[TheLocNar]

Ain’t going to happen with the fools running the show now.

 

[adaptabl]

Perhaps. However, after Tesla, Nissan and GM have already blazed the EV trail, the latecomers can just copy their efforts, take advantage of lower battery prices nowadays, and skip all the hard stuff.

The tax credit amount was reportedly chosen to be similar to the subsidies that oil and ICE cars get (externalities, for example). If so, why have it phase out at all?

What about road taxes that EV's don't pay yet?