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New "Fiscal Cliff" bill seems to keep EV tax credit

Discussion in 'Model S: Ordering, Production, Delivery' started by aviators99, Jan 1, 2013.

  1. aviators99

    aviators99 Model S - R140

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    My reading of the bill passed by the Senate last night shows that there is no renewal of the EV credit. Anyone reading it differently?
     
  2. Raven

    Raven Member

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    I hope you're illiterate. At least temporarily.
     
  3. steve841

    steve841 Active Member

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    We're good ... we took deliver in 2012!
     
  4. ElSupreme

    ElSupreme Model S 03182

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    If it isn't mentioned it will continue, AFAIK. The bill only expires, per manufacturer, after they produce 200,000 cars. So no mention is a 'continuation'. It would have to be specifically mentioned for it to end.

    This is my understanding of the way the credit was written. I could be wrong.
     
  5. HFh

    HFh Member

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    Where's the text of the bill? All I've found so far is: "Another $64 billion would go to renew tax breaks for businesses and for renewable energy purposes, like tax credits for energy-efficient appliances."
     
  6. vfx

    vfx Well-Known Member

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    From inner PIA JF:


     
  7. aviators99

    aviators99 Model S - R140

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  8. ChadS

    ChadS Petroleum is for sissies

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    #8 ChadS, Jan 1, 2013
    Last edited: Jan 2, 2013
    Indeed - the $7,500 federal tax credit for 4-wheeled plug-in vehicles was never in danger as it was written to expire on volume rather than time. (Well, somebody could have explicitly canceled it, but nobody ever tried, to my knowledge).

    It does look like we might get the EVSE and 2-3 wheel credits back. That would be nice, as they expired at the end of 2011 just as equipment was arriving. Plug In America has been following this very closely, and we helped make sure that the EV incentives were part of the extenders bill; but there hasn't been a lot we could do to make sure the extenders bill passed as anything we said would have been lost in the fiscal cliff noise. (As Jay Friedland likes to say, we are the bacteria in the gut of the flea on the tail that is wagging the dog).
     
  9. markb1

    markb1 Active Member

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  10. Beavis

    Beavis Signature 991

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    It doesn't automatically expire in 2013. The concern with the credit was twofold. First, that if the Republicans won, the credit would be a casualty given that Romney mentioned Tesla and Fisker in the debates and on the campaign trail. Second, some owners were counting on getting it in 2012 rather than 2013 and paid estimated payments or pegged their withholding accordingly.
     
  11. brianman

    brianman Burrito Founder

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    I still don't get where people were finding this linkage. The objection to Tesla, Fisker, Solyndra, etc. was in government investment in individual companies (rather than venture capitalists). Buyer incentives broadly for EVs is a different thing entirely. At least as I understand it.

    Similar to: home mortgage tax deduction vs. giving a loan to an individual home construction company.
     
  12. jomo25

    jomo25 P4398

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    You are trying to use logic to explain things the Congress does. Stop it. It doesn't apply.

    The linkage was really that EV credits are considered "Obama policies" (even though they really aren't). So, all Republicans had to be against it since they opposed anything Obama-related. As an exmaple, in the heat of the campaign, I rec'd a letter from my GOP Congressman decrying the EV tax credit as a waste of taxpayer money. This letter was really a piece of work simultaneously implying the deficit was significantly increased by the EV credit and the EV's were a failed proposition. This statement can only be wrong because the credit only is paid when a sale occurs. So, if the sales were minimal as the letter claimed, then there would be no impact to the deficit since the money wouldnt be paid. A complete joke of a letter.

    Anyways, many hoped that it would be better once the election passed. Jury is still out on that.

    The EV credit for cars would need to be specifically repealed/ended. Reinstating (and backdating to 2012) the EVSE credit is a welcome addition as well. So, anyone who paid for the HWPC (or any other charging solution) can claim up to 30% of the costs of it and the install. Hmm, maybe I will opt for it then.
     
  13. brianman

    brianman Burrito Founder

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    I have no problem expecting politicians to follow illogic. What I found surprising and concerning was TMC forum members doing so.
     
  14. Beavis

    Beavis Signature 991

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    I don't think it's illogical to believe that the right wanted to do away with renewable energy subsidies. Based on campaign trail comments about eliminating subsidies, deductions and credits as a means to pay for reducing rates and promote simplification, I think it is more illogical to think that they would support the EV credit.
     
  15. HFh

    HFh Member

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    Including a 14-50 installation?
     
  16. jomo25

    jomo25 P4398

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    #16 jomo25, Jan 1, 2013
    Last edited: Jan 1, 2013
    Yes, it should be eligible as well, assuming it is passed.

    Edit: Actually, let me backtrack. I can't say for certain if installation costs (incl. 14-50) is eligible for the federal one. I know some states' do/have allowed install costs. But not sure about the federal one. Sorry for confusion!
     
  17. EarlyAdopter

    EarlyAdopter Active Member

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    Yeah, wondering the same thing here.

    My EVSE just happens to be in the form of a NEMA 14-50 socket. Can I claim the rebate on its installation?
     
  18. gregincal

    gregincal Active Member

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    I am in no way a tax lawyer, but the text of the credit just says property "for the recharging of motor vehicles propelled by electricity, but only if the property is located at the point where the motor vehicles are recharged." I don't see why a NEMA 14-50 socket wouldn't qualify as long as it was installed for the purpose of recharging a motor vehicle.
     
  19. FlasherZ

    FlasherZ Sig Model S + Sig Model X + Model 3 Resv

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    The US tax credit instructions (IRS form 8911) contain the following qualifications:

    The amount of credit is the smaller of $1,000 or 30% of the cost. This would make it seem like a NEMA 14-50 installation is qualified.

    States vary. Illinois, for example, requires it to be a UL-listed J1772 EVSE. The Tesla HPWC and its installation do not qualify.
     
  20. brianman

    brianman Burrito Founder

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    You mean the ones they introduced?
     

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