Tax rebate extension possible?

[CravenRx]

What does everyone think the chances of the bipartisan bill to extend the tax incentives to $7000 actually gets passed?
If it does get passed how will it effect people buying between Jan 1 and whenever it passes? Will it be retroactive or only apply to those who take delivery after?

I am thinking about pulling the trigger on a LR AWD in the next month or so before the current incentive drops again...

 

[Beaver]

I had read months ago that Trump and a few other Republicans wanted to kill the current EV rebate after this year. I hope that the Republicans that are for this bill can help sell it as a jobs bill (it is).

 

[Silicon Desert]

The general consensus is good, BUT I never bet on what Washington will do. It can help with EV sales in general if it passes. Better than letting it expire.
As a side note, not even remotely connected to this thread, what does "pulling the trigger" mean? You are thinking about buying it? Or you are going to use the car for target practice? As a former Navy Vietnam carrier pilot, I never like negative terms to describe positive actions

 

[Watts_Up]

Just change the name of the company from Chevy to Cadillac or Tesla to Edison, “et voilà !” good for another 200,000 cars discount.

My point is that companies like VW or Toyota own several companies, so they can game the tax break:

- Low cost Tesla Model 2 would be sold by VW as the ID (e-Golf).
- Sporty Tesla Model 3 and Y would be sold by Audi as the Audi e-Tron
- Top of the line Model S and X would be sold by Bentley.
- Exotic Tesla Roadster would be sold by Lamborghini.

Idem for Hyundai, Kia, Genesis

And Toyota selling Scion, Subaru, Lexus, Mitsubishi

So why don't Tesla branch out and create new companies, since they sell online, it would not be too difficult.

 

[CravenRx]

Well I have never given the term much thought as being negative but yeah it means I am thinking hard about buying one. But if it passes will it apply to everyone that purchases this year? I would hate to buy one next month then find out if I had waited a month I would get an extra $3,250 returned.

 

[Beaver]

"pulling the trigger"

That phrase means to buy/do something you aren't so sure about. I pulled the trigger on buying the Model 3 even though there is a lot of FUD in regards to the company.

 

[Beaver]

See here in the investing thread:
Tesla, TSLA & the Investment World: the 2019 Investors' Roundtable

 

[MXWing]

As a side note, not even remotely connected to this thread, what does "pulling the trigger" mean? You are thinking about buying it? Or you are going to use the car for target practice? As a former Navy Vietnam carrier pilot, I never like negative terms to describe positive actions

It's negative because we've allowed the lexicon to be defined as such. To me "Gun Control" always meant:

- Good sight alignment
- Solid grip
- Breath holding
- Non anticipatory trigger pull
- Reset after recoil

If congress doesn't do anything about the tax credit, it just benefits foreign auto that didn't work to be first adopters.

 

[OCR1]

I don’t see it happening under this administration. I wish it does happen though as I hate to see all of the foreign competition having a leg up on Tesla simply because they were first to market and their tax credits expired as a result of being a leader in the EV space.

 

[woodisgood]

I think this administration is in a bit of a pickle when it comes to this issue.

On the one hand, they’re not really interested in catering to people who make or want EVs, or who believe climate change is real, or who ultimately harm the oil and coal industries.

On the other hand, they want to support American businesses and manufacturing, though I’m sure they would prefer some of those businesses and manufacturing weren’t located where they are.

Just can’t see this happening without other significant concessions in the bill that will ultimately two-step-back the one-step-forward tax credit.

 

[Oyinko]

What does everyone think the chances of the bipartisan bill to extend the tax incentives to $7000 actually gets passed?
If it does get passed how will it effect people buying between Jan 1 and whenever it passes? Will it be retroactive or only apply to those who take delivery after?

I am thinking about pulling the trigger on a LR AWD in the next month or so before the current incentive drops again...

If it passes, It's also very likely that Tesla decides to increase the price by $2000 to capture some of this tax credit.

 

[woodisgood]

If it passes, It's also very likely that Tesla decides to increase the price by $2000 to capture some of this tax credit.

Agreed.

 

[cpa]

Just change the name of the company from Chevy to Cadillac or Tesla to Edison, “et voilà !” good for another 200,000 cars discount.

My point is that companies like VW or Toyota own several companies, so they can game the tax break:

- Low cost Tesla Model 2 would be sold by VW as the ID (e-Golf).
- Sporty Tesla Model 3 and Y would be sold by Audi as the Audi e-Tron
- Top of the line Model S and X would be sold by Bentley.
- Exotic Tesla Roadster would be sold by Lamborghini.

Idem for Hyundai, Kia, Genesis

And Toyota selling Scion, Subaru, Lexus, Mitsubishi

So why don't Tesla branch out and create new companies, since they sell online, it would not be too difficult.

Can't happen.

Read the code section.

 

[ammulder]

I thought the editorial against it (excerpt here) was hilarious:

In my view, it’s an affront to all that’s decent and rational for the rest of America to give $7,000 tax credits to people in Silicon Valley’s richest neighborhoods so they can buy themselves new toys. While the proposal’s sponsors call the bill the “Driving America Forward Act,” I think they should really dub it the “Muscle Cars for Billionaires Law.”​

Nice that even the opposition is calling EVs "muscle cars."

 

[woodguyatl]

The general consensus is good, BUT I never bet on what Washington will do. It can help with EV sales in general if it passes. Better than letting it expire.
As a side note, not even remotely connected to this thread, what does "pulling the trigger" mean? You are thinking about buying it? Or you are going to use the car for target practice? As a former Navy Vietnam carrier pilot, I never like negative terms to describe positive actions

As a rule of thumb I avoid such phrases.

 

[CravenRx]

Well... glad I held off another day. Same car was $2,500 cheaper tonight and I can look at what a lease looks like and decide if I want to buy or lease. Going to be a lot of unhappy people in the morning. And some happy ones..

 

[john3738]

What does everyone think the chances of the bipartisan bill to extend the tax incentives to $7000 actually gets passed?
If it does get passed how will it effect people buying between Jan 1 and whenever it passes? Will it be retroactive or only apply to those who take delivery after?

I am thinking about pulling the trigger on a LR AWD in the next month or so before the current incentive drops again...

We should all lobby our representatives to return tax rebates for all EV's that contain 50% US parts and assembled in the USA. We should not be subsidizing foreign-made EV's. No rebates to foreign rebates could pay for American made ev's rebates.

 

[cpa]

We should all lobby our representatives to return tax rebates for all EV's that contain 50% US parts and assembled in the USA. We should not be subsidizing foreign-made EV's. No rebates to foreign rebates could pay for American made ev's rebates.

We currently have a moribund Congress. They just left for vacation until after Labor Day. They just passed a budget that funds the government for quite some period at the cost of, what, a $1 trillion deficit?

At this time, the Republicans are mere puppets, and the Democrats have only one thing on their mind. Both sides are like Nero.

This idea is beneath trivial in today's legislative environment. I guess we get the representation that we deserve. [Sigh.]

 

[jebinc]

What does everyone think the chances of the bipartisan bill to extend the tax incentives to $7000 actually gets passed?
If it does get passed how will it effect people buying between Jan 1 and whenever it passes? Will it be retroactive or only apply to those who take delivery after?

I am thinking about pulling the trigger on a LR AWD in the next month or so before the current incentive drops again...

The operative word is "bipartisan"... Given the current levels of "hate" between the parties, this bill will likely not see the light of day, IMHO.

 

[john3738]

Well... glad I held off another day. Same car was $2,500 cheaper tonight and I can look at what a lease looks like and decide if I want to buy or lease. Going to be a lot of unhappy people in the morning. And some happy ones..

No one should be unhappy. My computer is now cheaper, my phone is now cheaper, the original Panasonic flat-screen plasma was 15k.
In my heart, I think a Tesla 3 is like buying 80k in tech. hopefully, it will be cheaper and cheaper. Your investment must be safe because Elon will not let you purchase your car after lease. WHY Because after 3 years he wants it BACK.