Federal Tax Credit for Prime

I actually didn't look for a smiling turd emoji; you bring up a good point!
I think I will have to file a formal request!!

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There are several to choose from.

 

im sure this administration would back credits towards a coal powered car

i hate how the environment and our planet's future is politicized. Everyone should be behind having a healthier planet.

 

What irritates me is the 200,000 credits per vehicle manufacturer is almost done. Just let it expire. No need to flog it, stab it, burn it, and then stomp it in to goo to make a point.

 

You can't post ?

Fun fact: Japanese phones have had this emoji since 1999, starting with NTT DoCoMo (Do More Communication).

https://www.google.com/amp/s/www.webdesignerdepot.com/2016/10/the-surprising-history-of-emojis/amp/

Posted via the PriusChat mobile app.

 

I guess I'm too much of a twisted optimist, but they look more like chocolate ice cream to me!! Oooh, meh!!

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I did find my crippled snail emoji
but no turd; I think my phone has been flushed!

 

The one on my Japanese Toshiba has insects flying around it, which made me laugh and say 「あきさん、見て。うんこです」 (Aki, look. It's poo!) She said, 「はい正です。」 (Yes, you're right.)

Then we laughed about it, because American phones didn't have emoji. This was in 2001, when 携帯電話 (cellphones) were big and klunky, but ours seemed like toys because the functionality was so limited in comparison.

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No potty mouth for you!

 

F@#$!!! this corrupt president, administration and the GOP, they are pieces of s@$!.

I am an independent and hate talking about politics, but it was bad enough he took us out of the Paris Climate Agreement. This ignorant man baby is actually trying to burn the world down. He wants his estate tax cuts to enrich himself, so clean energy tax cuts need to go for everyone else.

I worked hard to pay for this car, the tax credit was one of the main reason why I picked it. This is so disheartening. I feel like I am being robbed of $4,500.

I don't know much about the GOP tax plan, but I hope at the very least they allow people who bought electric cars in 2017 to still claim the credit and cancel the incentive going forward.

 

I think you have to be safe for 2017. The tax code is set for this year. Even if they pass this thing it will probably be 2019 before things are set up. Who knows but 2017 is in the bag.

 

Dumb question in my part why? Never applied for tax credits on a Prius. How does this work? It's not like I get a check for $4300? Or what ever the rebate is? Thanks


Bat cave

 

My understanding is the federal tax credit allows you to deduct up to that amount from your federal income taxes owed. If your taxes are less than the credit, you lose that amount.
Some state & energy company incentives work differently.

 

So if I don't owe taxes then what?


Bat cave

 

then you don't get anything from the credit and it's lost.

 

Do you mean no taxable income or you do not owe more that what was deducted?
It you have no taxable income. you do not have any to which the credit would apply.
If your taxes are less than your withholding, you would get a refund up to the amount of your taxes or the amount of the credit, whichever is lower.

 

The draft version of the House bill released this week only removes the credit for cars put into service after December 31st 2017. (The actual text of the bill is here: https://waysandmeansforms.house.gov/uploadedfiles/bill_text.pdf The EV credit change is in Sec. 1102(d), Repeal of Section 30D)

But that doesn't mean the credit is safe if you have your Prime.

LONG VERSION: The bill out now is only a first draft, and it will NOT become law in its current form. First, it will be marked up (i.e. edited, amended, and rewritten) by the Ways and Means committee starting Monday November 6, and it is completely within the bounds of the law for them to remove the credit backdated to January 1 2017 if they choose. The bill that comes out of committee will then be voted on by the whole House. Other House members don't get to introduce any other changes at that point, they just vote yea or nay.

Then there's the Senate bill they're writing right now, which may also leave the credit intact, but it's frankly likely to be at some higher risk in their version. The House bill released this week is almost certainly too expensive for the Senate to be able to pass due to the Byrd rule, so the Senate version of the bill is almost certainly going to be making more cuts and limiting more credits and deductions than the current Bill does. Even if the House approves leaving the EV credit intact through December 31st, the Senate may still repeal it retroactively. Then if the Senate bill passes, some House and Senate members have to conference together and come up with a final agreement version of the bill that goes to the White House for signing, and that final version could also still kill the credit. The final bill that goes to the President could then technically be vetoed by him, but absolutely nobody finds it even vaguely possible that he will, no matter what he tweets.

SHORT VERSION: Under the first draft of the bill, if you already have your Prime, you can get the credit, but this bill isn't going to be the actual law that gets passed. There are a LOT of steps remaining in the process during which they can still kill or reduce the credit even if you already have your car and dole out punishment for buying a Prime.

ABOUT FEELING ROBBED: If you bought a Prime this year and feel this way, it's critical that you call your Representative and both your Senators, regularly, to tell them how you'd feel about your car purchase retroactively costing you $4500 more. The petition on Plug-In America or other sites like it might feel good, but from what former Congressional staffers have said about their process, it will have zero influence. Civilly but bluntly telling one of their actual staff members how financially injured and/or furious you'd be if you lose the credit, they will actually tell the congressperson how many of that call they get. The more tallies in that column, the more reelection votes they know are on the line, the more likely they are to stand up for the issue.

If your Representative happens to be on the Ways and Means Committee (Full Committee - Ways and Means), they'll be the ones doing the markup (i.e. making changes to this draft), so your call would have extra influence over what shape the bill takes. Ditto if either of your Senators are on the Senate Finance Committee (Membership | About | The United States Senate Committee on Finance), and/or if either if your Senators is a Republican. GOP Finance Committee Members have set up a system of meetings with all GOP Senators not on the committee to make sure that the bill factors in all their opinions in the hopes it'll be easier to pass, so all Republican senators are getting at least some input into whether or not the EV credit stays for 2017. Lastly, if your district happens to have a significant auto manufacturer presence, they are likely the most powerful lobby (sadly, environmental protection lobby is stuck swinging a lot of nerf bats in the current political environment) in favor of the credit, so adding your call could amplify that. Doesn't matter that your car's Japanese, virtually every American maker has a stake in EVs by now too.

Everyone's voice carries weight, everyone who cares about this should be making phone calls, but in all of the above cases cases, your voice will carry extra weight.

Footnote: I'm not a Congressional staffer, if anybody here orbits closer to the Hill than I and has better insight or finds I've erred somewhere, please speak!

 

Also leasing is sometimes an avenue to capture the credits because then the lease company gets the $4500 credits, and you get a lower lease cost.

 

While I appreciate the sentiment of "Everyone's voice carries weight", current events don't give it much credence.

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It doesn't hurt to call your elected officials which I plan to do. One point to make when I call is why should they risk any political blowback from eliminating the credits since these credits go away automatically with their built-in phase out mechanism. Pulling the plug on them early kills jobs and might even push Tesla into bankruptcy.

 

Perhas that is what they ( or their handlers) hope for. - less competition!