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Tesla EV tax credit extension

Discussion in 'Model 3: Ordering, Production, Delivery' started by delfonique, Dec 16, 2019.

  1. delfonique

    delfonique Member

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    #1 delfonique, Dec 16, 2019
    Last edited by a moderator: Dec 17, 2019
  2. swoozle

    swoozle Member

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    Depends, would it cover cars delivered in the 2019 tax year? If not, that'd be a real pisser. Stress over getting your car delivered in the EOQ/EOY crunch to get the last little $1875 tax credit and then have it raised to $7k for the NEXT year.
     
  3. Bluemoon3

    Bluemoon3 Member

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    this is a waaaays off with big political hurdles. Even if it gets fully drafted and passes the House I would imagine something like this won't exactly be a high priority for the current Senate. It make a lot of sense, given that it would level the playing field for early entrants to the EV market competing with newcomers, but given all the political noise going on right now, and certainly with an election year coming up, it seems like this is going to take a long time to take effect... like 2021? I wouldn't hold my breath for the $5k savings...
     
    • Like x 1
  4. jonquiljo

    jonquiljo Supporting Member

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    Call me a cynic, but our (US) government is about as dysfunctional as it can get these days. Nothing really happens as there is a major obsession with partisan infighting. Congress has done very little in the last 3 years - and I see nothing that will change that any time soon.

    In the best of scenarios, the tax credit could be reinstated - retroactively remains unsure. This new tax credit would be income capped, whereas the existing one is not. How they manage the transition if enacted, remains unsure.

    Like most things, I think we can only deal with what we have today. I personally wouldn’t go timing potential purchases on a credit that may never be renewed. But thats just the way I look at things.
     
    • Like x 3
  5. Hennessy

    Hennessy Member

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    Quick question, my state has a rebate program, with the condition that it needs to be under $50K (MA). The "FINAL" price was over $52K including tax. Would I qualify for the state's credit?
     
  6. badiban

    badiban Member

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    Wow. Should I return my SR+ then? I'm still within the 7 day return window. Another $5k in savings is nothing to scoff at...I could get an LR AWD for the same price as what I paid for my SR+ even. I'd be so pissed if I lost out on that much money.
     
  7. boriszima

    boriszima Member

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    This is a big what if vs what you have now. Senate is Republicans who are pro oil. So unlikely anything will happen. Then again I don’t know much about politics. Would be great for EV adaptation as a whole.
     
    • Like x 7
    • Informative x 1
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  8. Click

    Click Member

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    Aaaaaaaand it’s dead.

    imagine thinking this had a snowballs chance in hell with the current government....

    I wish I was that hopeful. We’re more likely to get a tax break for converting to a coal powered car
     
    • Funny x 2
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  9. Loit

    Loit Member

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    Not happening. There's no way that makes it through the Senate as is. You'll have to wait for the 2020 election, hope more EV friendly faces appear, then wait for a new bill to be introduced.

    Right now, you have 2k. Take it while you can.
     
    • Like x 6
  10. mj3ngr

    mj3ngr Member

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    I had better pay attention to this. I was gonna get rid of my LEAF in April or May or so.. this particular proposal would shave $500 off the LEAF incentive since they're still at $7,500 (and no hopes of going down, unfortunately for us sellers)
     
  11. KerryOH

    KerryOH Member

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    • Informative x 1
  12. OCR1

    OCR1 Active Member

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    Oh well. Easy come, easy go...

    It’s not all bad. If the bill had floated around for months and months without passing it could have caused prospective Tesla buyers to delay their purchases while they await a decision on the bill. That could have virtually killed North American sales for next year if it got delayed too long.
     
    • Like x 2
  13. Type 5

    Type 5 Member

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    I’ve got my VIN - I should be good be good for the $1,875 Federal Tax Credit. I would not wait for a bill that may or may not pass.
    When/If another $7,500 Bill passed, I might buy another Tesla.
    $7,500 would not induce me to purchase an EV from one of the other Johnny Come Lately manufactures. I think they are going to have a rude awakening in the market - Tesla didn’t just happed by chance. The Legacy Manufactures seem to be getting involved merely by happenstance. They are up against a huge curve and they are so unprepared, ignorant, they don’t even realize it.
     
  14. Evergreeen

    Evergreeen Member

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    It would be good for consumers, but difficult for Tesla to harvest it now and would help their competitors
     
  15. OCR1

    OCR1 Active Member

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    It will be interesting to see if the market takes back all of yesterday’s gains on the stock price, since it was believed to be mainly related to the news of a potential tax credit extension. So far it is only down slightly.
     
  16. Kmartyn

    Kmartyn Member

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    It is widely reported in my morning news feed that strong resistance directly from the president killed this part of the bill. I do apologize for the off topic comments. There are other venues for those discussions.
     
    • Like x 4
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  17. 640k

    640k Member

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    at this point all any of us can do is LOL. here's hoping they don't take away my $1800.
     
  18. willow_hiller

    willow_hiller Active Member

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    I think the tax credit was a secondary reason for the gains. Given how the market is reacting this morning, the primary reason is probably anticipation of made-in-china Model 3s.
     
  19. DragonWatch

    DragonWatch Small FootPrint

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    OMG ~ I never saw this coming:eek::rolleyes:
     
    • Funny x 1
  20. boriszima

    boriszima Member

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    I agree, prime example this thread. Quick death indeed.
     

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