Senate version of the Tax Bill preserves EV Tax Credit.

[EVNow]

Electric vehicle tax credit preserved in Senate’s revised tax bill, says senator

“The South Dakota Republican said the measure also preserves existing clean energy tax incentives such as for electricity production from wind. It preserves a tax credit for electric cars as well.“

As usual, all this is early talk. As a DC insider said on a pod cast - If you thought repealing ACA was difficult, just wait for tax "reform".

 

[tashtibet]

it's not over yet-you still need to remind your senators/ rep by writing & calling them. Do not delay, do not procrastinate-just do it right away-follow the link below:
Plug In America

 

[Skione65]

it's not over yet-you still need to remind your senators/ rep by writing & calling them. Do not delay, do not procrastinate-just do it right away-follow the link below:
Plug In America

@tashtibet,

Done!!!

Ski

 

[Skione65]

Senate version of the Tax Bill preserves EV Tax Credit.

Good news on all fronts! Let’s hope this has legs. Please notify your Reps.

Ski

 

[insaneoctane]

Label me cautiously optimistic. Do not let up; continue to express your opinions.

 

[gregd]

Wrote the congress creatures via the website, and got a letter back from one. So, confirmation that the letter was delivered. Yea! Problem is, the return form letter I received was both vague and irrelevant to the topic at hand. Typical to running a political office, I suppose, but I am left wondering whether the message - the meaning of my writing - was actually heard. May have to make a phone call, but any bets I get an answering machine? {sigh}

 

[azred]

Wrote the congress creatures via the website, and got a letter back from one. So, confirmation that the letter was delivered. Yea! Problem is, the return form letter I received was both vague and irrelevant to the topic at hand. Typical to running a political office, I suppose, but I am left wondering whether the message - the meaning of my writing - was actually heard. May have to make a phone call, but any bets I get an answering machine? {sigh}

I’d bet answering machine or 20 year old intern who has met the representative or senator a couple times.

 

[EVNow]

I’d bet answering machine or 20 year old intern who has met the representative or senator a couple times.

Doesn't matter. Even a small # of vocal people make a difference. Call.

 

[azred]

Doesn't matter. Even a small # of vocal people make a difference. Call.

My 20+ years in the legislative arena suggest the opposite although every situation is different. But in general I have found large numbers of people, noisy or not, are the key. Legislators worry most of all about losing elections. A few people at a legislator’s office door are an annoyance; a hundred are a crisis.

So I am not disagreeing with the need to contact at least the Republicans, but we need more than a few noisy voices to write, call, and show up at their offices.

 

[run-the-joules]

This might make me a horrible person but I'm at least kinda OK with the idea of it going away just because I'd likely get the car sooner.

 

[atlas310]

Not sure where you all are, but the Senate Bill also eliminates property tax and local income tax deductions. Here in CA, that sucks.

 

[run-the-joules]

Not sure where you all are, but the Senate Bill also eliminates property tax and local income tax deductions. Here in CA, that sucks.

But it also finally kills AMT, which is *great*.

I'm annoyed at the prospect of losing the SALT deductions but honestly, we choose to live in a state with high income tax, it's not the fed gov's fault.

 

[SageBrush]

But it also finally kills AMT, which is *great*.

I'm annoyed at the prospect of losing the SALT deductions but honestly, we choose to live in a state with high income tax, it's not the fed gov's fault.

High state income tax correlates with high cost of living and high(er) salaries ... of which the feds then take a bigger chunk. Doing away with SALT is a double taxation.

 

[run-the-joules]

High state income tax correlates with high cost of living and high(er) salaries ... of which the feds then take a bigger chunk. Doing away with SALT is a double taxation.

You're not wrong, of course. I'm just trying to keep myself from getting too pissed off.

Hell I shouldn't even be THAT angry about AMT, at least in my case I get it all back in the form of carryforward credits… it's just an interest-free loan to the gov that I'd rather not be underwriting.

 

[T34ME]

This might make me a horrible person but I'm at least kinda OK with the idea of it going away just because I'd likely get the car sooner.

I agree, plus it gives Tesla a YUGE advantage over the legacy car manufacturers who are trying to break into the EV market currently dominated by Tesla.

But it also finally kills AMT, which is *great*.

I'm annoyed at the prospect of losing the SALT deductions but honestly, we choose to live in a state with high income tax, it's not the fed gov's fault.

Every year I get bit by the AMT but then I prosper because I qualify for it, so "ni modo." And it IS the government's fault for not providing basic services that it passes on to the States. Some States, like California accept that responsibility (and taxes are higher as a result) and some States don't. If California GOP Congressmen vote for elimination of SALT deductions, they can kiss their "carears" goodbye.

As far as California, everyone has a choice to where they call home. As a lifelong resident, I can't imagine living anywhere else, high wages and high taxes or not.

 

[gregincal]

But it also finally kills AMT, which is *great*.

I'm annoyed at the prospect of losing the SALT deductions but honestly, we choose to live in a state with high income tax, it's not the fed gov's fault.

SALT doesn't make much difference if AMT disallows those deductions anyway.

 

[run-the-joules]

SALT doesn't make much difference if AMT disallows those deductions anyway.

Depends. Main reason I'm getting particularly dick-kicked by AMT this year is because of ISO exercise-and-hold. I'll get that back over the next few years one way or another because of carryforward credits. If the SALT deduction goes away and the personal exemption goes up I'm not SUBSTANTIALLY worse off, but a little bit.

I'll live, of course, but I'm greedy and don't like giving up any money I don't have to.

 

[kengchang]

Depends. Main reason I'm getting particularly dick-kicked by AMT this year is because of ISO exercise-and-hold. I'll get that back over the next few years one way or another because of carryforward credits. If the SALT deduction goes away and the personal exemption goes up I'm not SUBSTANTIALLY worse off, but a little bit.

I'll live, of course, but I'm greedy and don't like giving up any money I don't have to.

Personal Exemption is dead due to the so called double standard deduction

 

[run-the-joules]

Personal Exemption is dead due to the so called double standard deduction

Er yeah. Right thought wrong term on my part. Thank you.

 

[SageBrush]

You're not wrong, of course. I'm just trying to keep myself from getting too pissed off.

You should be mad, the tax "reform" is just one big wealth transfer from the richer to the poorer states when it is not busy being a wealth transfer from the middle class to the corporations. See this wikipedia article before the "reform."