Maybe We Should NOT Count on the $4,500 Federal Credit

hard to say. these things are not usually done in a vacuum. the bills that are written contain so many different things, i wouldn't venture to guess. not counting on it might be smart.

 

It is very rare for a tax bill to retroactively remove a tax credit. I certainly would wait to see what the bill did for tax year 2018 if I was waiting to buy a Prime until then. But for 2017 I'll bet a dollar that the credit survives.

 

don't count on that either.

 

The amount of the credit in total is tiny. I don't see Congress bothering to touch it with the other big ticket items they can mess with; they may have even forgotten about it existing.

 

Seeing as I won't be getting my Prime for another few weeks, I too am worried about the status of the tax credit. I don't really know a lot about how the federal tax system works. Like is everything already said and done for the 2017 tax year? I'm fairly sure Texas State laws that could have affected anything for this year would have been done last year. Seems like a lot of our State laws get passed in the early part of the year then go into effect September 1st (not always but in most cases & not sure why they pick that day). Our State incentives ran out a long time ago so I know I won't get anything there but we also don't have a State income tax so I won't complain. That being said, I still have no clue about the federal tax incentives.

 

taxes are always said and done. tax credits are never written in stone.

 

I don't think that "retroactive" was part of the comment.
I DO think that NOTHING is safe in the current environment. NOTHING.
We are in an era of the Golden Rule: Them that has the gold makes the rules.

 

Given the intense despise the current administration has for anything related to environmental issues, and in general for how things are "customarily done", I wouldn't be surprised if they made an exception to to customary practice and went after the 2017 credit. Going after those wimpy un-American tree-huggers would really appeal to their "base".

 

Congress is in recess now so visit your critters and let them know your opinion.

Bob Wilson

 

Like many others, I'm concerned that the tax credit for buying a Prime will no longer be available / will be "killed" under #45's so-called leadership BEFORE we buy our Prime and/or BEFORE we actually receive the credit for Tax Year 2017.

I've been trying to get in touch with our "e-sales" rep (the same one who sold us our 2nd Gen in August of '08) for two weeks now... to see if there's any new info about the "special order" we placed on May 1st. So far... NO response from him since BEFORE the 18th (when I sent him an e-mail). If we haven't learned anything VERY "specific" about our order by the end of June, I might just have to arrange to spend a week or two in up-state NY (visiting my brother who lives in between Syracuse and Albany) and maybe buy a Prime from one of the SEVERAL dealerships within 75 miles or so of his house... compromising if need be in terms of exterior / interior color, and maybe even having to "settle" for the Plus model rather than the Premium that I would VERY MUCH prefer!

 

Oh... LUCKY you! (Getting yours by around mid-June, I mean.) I just spent 20 minutes or so looking for a link to an article... I came across it a few weeks ago, but can't find it now. But as I recall... Congress recently (in December of 2015?) "extended" the time frame during which Fed Tax Credits would be allowed for EV / PHEV purchases... dependent upon total sales of each particular make/model. I believe that number for Prius Prime was 100K, but I could well be wrong.

Oh, how I wish I could find that link/article again. Maybe somebody here in Prius Chat has that info?

 

As @Trollbait said, the tax credit is a minuscule part of the budget. I would be pretty surprised to see it go away this year or next. But not astonished. At some point, plug ins will have to stand on their own two feet.

 

And the incentive already has end to it written into the law as is.

 

I hadn't read up on it. Makes sense. The idea (I assume) is to help get the new technology going and become self supporting.

 

The limit is 200k plug ins per manufacturer get the incentive. In the financial quarter that the 200 thousandth car is sold, the full incentive stays in effect. The next quarter, the incentive amount is cut in half, and down to a quarter amount in the quarter after that. It's just like the hybrid tax credit in that regard.

It should have a set time limit after the first company sells 200k plug ins. Without it fence sitters get rewarded more for waiting upon battery costs to drop than the companies that pioneered the segment; GM, Nissan, and Tesla.

 

You should have a good variety to choose from in NY, if not, NJ sure does and it is not too far from your brother. Best of luck!

 

I don't think the current environment is any different than the past environment. To think that now is any different than before is short-sighted in my opinion.

This is what Socrates had to say about youth of his day.

He was complaining about "today's" youth a couple millennia ago just as we are today.

Remember how successful our current president was the first 100 days? I do. Just because he wants something doesn't mean it will happen.

Act on what you know, not on what you think will happen. The federal tax credit is valid now. Anything can happen in the future. The credit is a very small part of the budget. An existing law is very hard to repeal. That's why the EPA passed a bunch of measures before the new anti global warming head was appointed.

If you think any one person can suddenly change laws, I suggest you take a US history course and understand what checks and balances mean and how our bicameral legislature works, or doesn't work if you're a cynic.