Tax Bill and EV Tax Credit Discussion

[UZJedi]

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

Fingers crossed this sticks!!

 

[TEG]

Kill the Electric Car Again? Not on Our Watch - Plug In America

...
Once the tax packages pass both the House and Senate Chambers, the two Chambers must resolve the differences between both tax packages (in a process called conferencing), and the House could propose the cut again. Congress is aiming for the conference to take place in December.

We can’t rest on this victory just yet. Both chambers of Congress still need to hear from us, loud and clear: Americans will stand up, and we will save the electric car...

 

[TEG]

Hey Congress! Here's Why You Can't Scrap The Electric Vehicle Tax Credit

 

[Nuclear Fusion]

But since climate change is a Chinese conspiracy, the rebate should be removed

 

[T34ME]

But since climate change is a Chinese conspiracy, the rebate should be removed

I like that dry Ozzie sense of humour (humor spelled upside down), eh mate? Have a fair dinkum day, "believe me"!

 

[david_42]

Don't forget, almost all "American" car manufacturing plants are in the Rust Belt or the South. There's little political mileage in keeping the credit.

Even if they do, with a Summer '18 delivery date, I wouldn't see the credit anyway.

 

[S3XY]

Don't forget, almost all "American" car manufacturing plants are in the Rust Belt or the South. There's little political mileage in keeping the credit.

Even if they do, with a Summer '18 delivery date, I wouldn't see the credit anyway.

Yes you would. You'd get at least half of it. But your overall point is taken.

 

[pdxrob]

Don't forget, almost all "American" car manufacturing plants are in the Rust Belt or the South. There's little political mileage in keeping the credit.

That includes quite a bit of EV/PHEV/Hybrid production. I know that the Leaf line is in TN and Kia does almost all of their manufacturing in the south (GA, TN), including their hybrid lines.

I agree with the lack of political motivation, but it's more about denying environmental concerns, not wanting to subsidies largely liberal/fairly well off folks, and liking gas guzzlers. (FWIW I grew up in the south)

 

[deonb]

But since climate change is a Chinese conspiracy, the rebate should be removed

Wow, you got a 'Disagree' from TEG on that one. That's... impressive.

 

[Nuclear Fusion]

Wow, you got a 'Disagree' from TEG on that one. That's... impressive.

He thinks it’s a Cuban conspiracy, that’s all

 

[Runt8]

That includes quite a bit of EV/PHEV/Hybrid production. I know that the Leaf line is in TN and Kia does almost all of their manufacturing in the south (GA, TN), including their hybrid lines.

I agree with the lack of political motivation, but it's more about denying environmental concerns, not wanting to subsidies largely liberal/fairly well off folks, and liking gas guzzlers. (FWIW I grew up in the south)

Ironic that those states contribute less to the federal government than they receive back. So technically they aren’t actually contributing to the federal EV tax credit.

 

[Barklikeadog]

My vehicle runs on E85, I want a tax credit too.

 

[Shygar]

He thinks it’s a Cuban conspiracy, that’s all

Mark Cuban?

 

[Shygar]

My vehicle runs on E85, I want a tax credit too.

You mean this one?
Federal Subsidies for Corn Ethanol and Other Corn-Based Biofuels | Taxpayers for Common Sense

 

[brkaus]

What’s in / out of the senate bill passed last night?

I see self congratulating, but no bill content.

 

[Tezlah]

Does anyone know if tonight's Senate tax bill kept the EV credit? • r/teslamotors

Looks like the credit is likely going away.

 

[NoTDI]

Regardless of the survival of the 7500 tax credit, overnight l am 12000 a year poorer because of the new tax code. First thing Monday I will be switching parties to be a democrat and will be looking for a new job that pays at least 16000 a year so I can have the same disposable income as before. This way my hard earned money and the taxes I pay can increase the trillions of dollars in cash that big corporation have don’t know what to do with.
At this point, I’m not sure if I’ll be buying a new car. I will just drive my paid off old Lexus and pollute the air-complements of the Republican Party.
This is a sad day for america (at least for me!).

 

[nikeykid]

yup, its toast guys

SA 1746. Mr. FLAKE submitted an amendment intended to be proposed to
amendment SA 1618 proposed by Mr. McConnell (for Mr. Hatch (for himself
and Ms. Murkowski)) to the bill H.R. 1, to provide for reconciliation
pursuant to titles II and V of the concurrent resolution on the budget
for fiscal year 2018; which was ordered to lie on the table; as
follows:

At the appropriate place, insert the following:

SEC. ____. TERMINATION OF CREDIT FOR NEW QUALIFIED PLUG-IN
ELECTRIC DRIVE MOTOR VEHICLES.

(a) In General.--Subpart B of part IV of subchapter A of
chapter 1 is amended by striking section 30D (and by striking
the item relating to such section in the table of sections
for such subpart).
(b) Conforming Amendments.--
(1) Section 38(b) is amended by striking paragraph (35).
(2) Section 1016(a) is amended by striking paragraph (37).
(3) Section 6501(m) is amended by striking ``30D(e)(4),''.
(c) Effective Date.--The amendments made by this section
shall apply to vehicles placed in service in taxable years
beginning after December 31, 2017.

 

[McRat]

Regardless of the survival of the 7500 tax credit, overnight l am 12000 a year poorer because of the new tax code. First thing Monday I will be switching parties to be a democrat and will be looking for a new job that pays at least 16000 a year so I can have the same disposable income as before. This way my hard earned money and the taxes I pay can increase the trillions of dollars in cash that big corporation have don’t know what to do with.
At this point, I’m not sure if I’ll be buying a new car. I will just drive my paid off old Lexus and pollute the air-complements of the Republican Party.
This is a sad day for america (at least for me!).

Yes, join the DNC. They are heavily anti-taxation.

 

[Az_Rael]

Well, that is unfortunate. I am guessing that will mean a boost for Bolt sales and inventory S sales in December, as they are the only long range EV option that can be purchased in time.


The title of this thread probably needs to be updated