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The Green Act and 2021 Tax Deduction for Tesla Buyers

Discussion in 'Tesla, Inc.' started by Rickblaine1, Feb 19, 2021.

  1. Rickblaine1

    Rickblaine1 New Member

    Joined:
    Feb 18, 2021
    Messages:
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    Location:
    Sacramento
    There has been much speculation in Tesla forums about the language in HRS 848, The Green Act, specifically: will those consumers who purchase a Tesla before the bill's enactment date qualify for the proposed $7000 tax deduction? So I spoke with Rep. Mike Thompson's office regarding the bill's language. (Thompson is one of the sponsors.)

    His aide explained that the legislation as it is written now would provide for the deduction for those who purchased Teslas after the enactment date. "It is hard for legislation to go backwards," he said. Having said this, he emphasized that the bill is still in its early stages and could undergo revisions before it may advance to votes in the House and Senate.

    As to the question of when The Green Act might pass both houses, the aide could not speculate. We need to work through the legislation addressing the pandemic first, he said.

    I thought it important to clarify the bill's intent here because Tesla sales agents (at least the one I am working with) may be advancing the interpretation, erroneously, that the legislation will "retroactively" include vehicles purchased in 2021 before the enactment date.

    Caveat emptor.
     
    • Informative x 2
    • Disagree x 1
  2. dmurphy

    dmurphy Woof.

    Joined:
    Dec 7, 2018
    Messages:
    3,319
    Location:
    New Jersey - Morris County
    What's the old saying, "Believe none of what you hear, and only half of what you see"?

    I wouldn't trust anyone's word on what a possible bill may or may not contain. The honest answer is that nobody really knows what path this thing may take.
     
    • Like x 1
  3. CyberGus

    CyberGus Not Just a Member

    Joined:
    May 5, 2020
    Messages:
    712
    Location:
    Austin, TX
    There's many things the US government can do to promote BEVs, many of which cost little or nothing. For instance, they could facilitate the construction of charging stations on federal land.

    If someone hands me a $7000 tax deduction with my shiny new Cybertruck, so be it, but it won't affect my purchase decision. Frankly I think that money would be more productive elsewhere, such as beefing up the national grid, but that might just be my ERCOT butthurt talking.
     
    • Like x 1
  4. TespaceX

    TespaceX Member

    Joined:
    May 1, 2020
    Messages:
    351
    Location:
    CA
    What’s with the disagree/downvote?

    I think it’s important to reiterate the very unlikelihood of having any potential credits be retroactive. Anyone saying otherwise is obviously a salesperson.

    Or, have both forms of incentives. Even a hair fraction of one percent of DoD’s annual budget could go a long way to building out a charging infrastructure.
     
  5. Madonna

    Madonna Member

    Joined:
    Jul 30, 2020
    Messages:
    9
    Location:
    Indiana
    Took possession of my M3 LR dual motor AWD in August 1020. Love it! Hearing references to possible tax credit. Haven’t looked into. Anyone know if this would apply to 2020?
     
  6. hmmwv

    hmmwv Member

    Joined:
    Oct 26, 2019
    Messages:
    215
    Location:
    Covington, WA
    Thanks OP for bring up this important question, I think it makes sense that this credit will only apply to purchases after it's passed. This however will also mean a significant reduction if resale value of Tesla vehicles, as people will be more willing to buy new instead of used.
     

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