Here's why I ask. Tesla and Chevy are both close to sales of 200,000 EVs/Plugins. This is the point where the incentive starts to phase out. Note that both of these car manufacturers are really the only serious American participants in this segment (Ford doesn't seem to be putting big effort into this sector). That leaves...only foreign players (Toyota, Nissan, BMW, Honda, etc) for 2019 that would be getting the rebate, causing a disadvantage to American manufacturers. The current USA administration is very pro-USA, is already rolling-back fuel economy standards, and is looking at tariffs to make the playing field even with foreign auto manufacturers. I know this was voted on last year in a tax bill. Is this voted on or amended yearly?
I do not believe in government subsidies. Anytime, there's a subsidy, the manufacturer or the vendor raises the price, that artificially raises the price and degrades the resale value of a vehicle. It's like tariffs. It might help one industry and hurt another. The biggest boondoggle is ethanol. It costs more in energy and money to produce than gasoline. It raises the eventual cost of food to the consumer. It's there to subsidize the farmers in states like Iowa, where the earliest Presidential primaries are held. .
I don't believe so. It would require new Congressional action to terminate it early. Which in theory, could have happened already without any noticing, buried deep inside the latest appropriation bills during their late night sausage making. That is what happened to my state's sales tax exemptions for hybrids in 2009, and plug-in cars this year. Details didn't get publicized until after the fact.
When they are messing with taxes this comes up. Now that that is over (for now) it should be safe as long as the range is not hit. But who knows with this current administration. Tax credits help push people in a direction. In this case towards cleaner energy. This helps us all.
The tax credit did help in the beginning, but likely really needed now. They are trying to get the temporary tax cuts made permanent, so they are still messing with them.
No, no Congressional action is needed. My friend is a retired Federal administrator. According to the Administrative Procedures Act, all the agency would have to do to restructure the program is to publish the NEW proposed rules, provide a 90 day review and comment period, and then publish the final rule. It does not require an Act of Congress.
Yeah; like all of the environmental standards being quietly rolled back in the current administration, politics notwithstanding.
Did my taxes $2750 refund from federal without the EV tax credit I would owe $900, best decision I made was to purchase a new 2020 Prius prime limited in October 2019 Posted via the PriusChat mobile app.
That isn't how tax-credits work. It isn't ever money from someone else. It is a reduction of what you would normally pay, a portion of your own lability. In other words, you get to keep more of your paycheck.
No, your taxes didn't help pay for his refund. Nor did anyone else's taxes pay for it. We are now running a Trillion dollar annual deficit. I'm not expecting the promise to eliminate the national debt (not just the annual deficit) by January 20, 2025, to appear in any of the "Promises Made, Promises Kept" advertisements. Posted via the PriusChat mobile app.
