White House Seeks To End EV Federal Tax Credit

DEC 3 2018 BY TOM MOLOUGHNEY 124

Can’t say we’re surprised by this.

After last week’s announcement by General Motors that they would be closing 5 plants and discontinuing some of their cars including the Chevy Volt, President Trump went to Twitter to respond to the news. His response was both expected, but also a little puzzling, as his message didn’t appear to really make sense.

President Trump’s Tweet:

Very disappointed with General Motors and their CEO, Mary Barra, for closing plants in Ohio, Michigan and Maryland. Nothing being closed in Mexico & China. The U.S. saved General Motors, and this is the THANKS we get! We are now looking at cutting all @GM subsidies, including….for electric cars. General Motors made a big China bet years ago when they built plants there (and in Mexico) – don’t think that bet is going to pay off. I am here to protect America’s Workers!

The puzzling part is the threat of eliminating subsidies “for electric cars” as a punishment to GM for plant closures and potential layoffs. General Motors is on the verge of surpassing the 200,000th electric vehicle sold, and will most likely pass it before the end of this year. Therefore, GM will begin their tax credit draw-down in the 2nd quarter of 2019, at which time the tax credit is cut in half to a maximum of $3,750. Then, in the fourth quarter, it is halved again to $1,875 for two quarters before it’s gone completely.

The Chevrolet Volt, along with other low-selling vehicles, will be discontinued as GM shutters plants and restructures.

So, in less than four months, GM, along with Tesla who already surpassed their threshold, will be at a competitive disadvantage against all of the other OEMs with regards to their electric vehicles. The electric vehicles from the companies will qualify for the full tax credit ($7,500) while GM and Tesla’s customers qualify for half ($3,750) of the full credit for 6 months, and then one-quarter ($1,875) for another six months. No other company is expected to hit their 200,000th electric vehicle threshold for at least another two years.

Therefore, if the Trump administration were to eliminate the electric vehicle tax credit, it would actually help GM (and Tesla) be more competitive, not punish them, as the President implied.

Then today, White House chief economic adviser Larry Kudlow said the Trump administration will seek to end subsidies for electric cars and also for renewable energy sources.

As a matter of our policy, we want to end all of those subsidies, Kudlow said. And by the way, other subsidies that were imposed during the Obama administration, we are ending, whether it’s for renewables and so forth.

Kudlow recognized that it may not be too easy to do this, and said he doesn’t expect to end electric vehicle subsidies for another year or two, probably in 2020 or 2021.

One wonders if GM’s plant closure announcement just gave the President an excuse to attack the EV Federal tax credit, something he’s never really supported, and it really had nothing to do with GM. That would actually make more sense since GM will no longer benefit from it by the time the White House does move to have it eliminated.

Back in June, a polar opposite proposal was made in the House of Representatives. Democrat Peter Welch of Vermont introduced a bill to remove the 200,000 vehicle trigger, extend tax credits for all automakers for 10 years, and create a time of purchase rebate (H.R.6274). There’s been very little to report on this, and given the latest remarks from the White House, we find it difficult to imagine it ever being approved.

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124 Comments on "White House Seeks To End EV Federal Tax Credit"

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Assaf

Can we do this without yet another picture of Trump! He is constantly in our faces anyway.

KevinZ

Please show some respect.

Mister G

Respect for a con man? Hell no

Clive

Respect is long gone in this world.

Sad but true.

Dav8or

I think that’s what he’s asking for. Respect for the readers of this blog by not posting another picture of the stable genius.

William

Maybe Journalist integrity prevented the Editor from including, the full of Hot Air, Floating Baby tRUMP!

https://goo.gl/images/TSy2s9

BoltEV (was SparkEV)

Agreed. I go to Fox news now that every other story in MSNBC and CNN mention DUMP. Fox doesn’t mention him nearly as much as others. Now I see DUMP even in IEV.

Mark.ca

Fox don’t name him anymore, they just call him “Master”.

Bar

I thought it was “Dear Leader”.

Bryan

Naw, Mein Fuehrer

Davek

Aaaand Godwin’s Law is fulfilled.

Brian

Lol! It happens especially quickly with this President.

Randy

“Dear Leader” is the other guy with bad hair…

Richard Giddens

That’s funny….on this issue I almost disagree. Let them cut the tax credit. I will buy another one anyway. F them.

ziv

The tax credit has pretty much done the job it was intended to do. Give the electric car industry enough of a jump start so that it can survive on its own. By 2020 or 2021 the credit won’t be needed. It is a pity that the successful carmakers see their credit cut in half first, but that may be a good reason to end it for all. Don’t reward the laggards.

REXtoCheckMate
Yes, it’s time Exxon let go if it’s government financing too… List of US Fossil Fuel subsidies from recent G20 report: – Expensing of Intangible Drilling Costs – Percentage Depletion for Oil and Natural-Gas Wells – Domestic Manufacturing Deduction for Fossil Fuels – Two Year Amortization Period for Geological & Geophysical Expenditures – Percentage Depletion for Hard Mineral Fossil Fuels – Expensing of Exploration and Development Costs for Hard Mineral Fuels – Capital Gains Treatment for Royalties of Coal – Deduction for Tertiary Injectents – Exception to Passive-Loss Limitation for Working Interests in Oil and Natural-Gas Properties – Enhanced Oil Recovery Credit (EOR) Credit – Marginal Wells Credit – Corporate Tax Income Exemption for Fossil-Fuel Publicly Traded Partnerships – Excise Tax Exemption for Crude Oil Derived from Tar Sands – Royalty-Exempt Beneficial Use of Fuels – Royalty-Free Flaring and Venting of Natural Gas – Liability Cap on Natural Resource Damage – Subsidies for fossil fuels used in the residential sector – Low-Income Home Energy Assistance Program (LIHEAP) – 50 year amortization schedule for coal plants. – The frill method used to make fracking possible was developed wit US tax dollars – All frack fluid is a trade secret( could be… Read more »
Eric Cote

I’m struggling to understand how some of the above is a subsidy to Big Oil. For example, the Low-Income Home Energy Assistance Program (LIHEAP).

tim

If you heat your house with oil or buy electricity made from oil and you get this assistance, that’s tax dollars going right to the oil companies. That money should be spent on making those homes sustainable and energy efficient.

BoltEV (was SparkEV)

Fox actually has stories other than DUMP, master or whatever term left wing media is obsessed with. I have to wonder how MSNBC and CNN will survive when DUMP gets out of office. Quite literally, they’ll lose half (or more) of their content.

Tedfredrick

Under Obama CNN and MSNBC we’re going downhill fast. Under Trump their viewership has increased tremendously. He is even creating jobs at liberal media stations

ModernMarvelFan

Well, it wouldn’t hurt Tesla much or GM. It may even give EV sales a short term boost.

I also don’t know how it can end this “law” sooner. Certainly not without court challenges or with Congressional approval.

It may be part of negotiation with Congress on something else, but there is no way they can end it without Congress.

dan

The Trump administration is not going to hurt Tesla or GM. One way or another, they were going to find a way to wind down the credit once these two manufacturers hit their 200k limits. This is just a theatric way of doing so.

ziv

Given the fact that the Dems hold the House, they will need to throw them a bone to get anything done. A $4,000 credit for any BEV sold/leased with 60 or more kWh, good until 2021, and half that in 2022, would give Tesla and GM all the advantages without rewarding Toyota, VW and BMW for dragging their feet.

dan

Democrats don’t really have any leverage on this issue. If they drag their feet and hold on to the status quo, what would that achieve? That will do down really well with the American public if Democrats are seen tipping the scales towards European and Asian manufacturers just so that they can score a petty point against the president. I used to think Democrats were the smart ones, but I have really had to revise my assumptions over the last couple of years. When the party was a little more ideologically diverse in the past, these kinds of hare brained impulses could be checked within the party. I really hope that they don’t turn EVs into even more of a political football than it already is.

Ziv

The Dems can stop any vote trying to end the plug in credit early. The GOP has to have 25 or so House Dems on board to pass anything with regards to passing a bill. So the GOP will have to throw the Dems a bone, and a good one at that. No one wants the plug in laggards to have the full credit while the plug in pioneers see their credit getting cut, over and over.

dan

You basically made my point. Given enough rope, Democrats can hang themselves. That doesn’t mean they should. Just because they can stop it doesn’t mean it makes sense for them. Most US manufacturers will have already lost their credits when the Democrats make that last stand. This is one of those scenarios where it makes sense to stop and think before you act.

Ron M

Well I hope Democrats pass a carbon tax penalize the polluters and reward clean energy companies and consumers without adding to the budget deficit. GOP claims to be conservatives. 2019 will see close to a trillion dollar deficit. GOP Tax Plan worked as I expected companies used money from offshore for share buy backs and bonuses for executives. The same thing that happened when GWB brought money back from offshore accounts.

Ocean Railroader

They are burning electric cars and rioting in France over a Carbon Tax due to it hitting poor people most of all.

I personally think a Carbon tax is a way for the rich to tax us havenots to fatten their pet projects. The trouble with a Carbon tax is it is to open ended in terms of funding being spent.

The reality right now is solar wind and battery and EV’s are already falling on their own without a carbon tax more coal plants are shutting down under Trump then Obama.

REXtoCheckMate

This is total horses***. You’ve never seen the global Koch Operation before? Carbon taxes = local Solar and Wind projects = MORE JOBS.

You know it’s a rich guy financed riot when it benefits the rich.
The EU except for Norway are all Petrol Controlled Governments.

Ron M

42% of US coal plants are still uneconomical to operate but Trump wants to subsides them more than they already are.

Kdawg

In France they should have (and maybe in the US too), lowered income taxes & raised the minimum wage enough to offset any passed down carbon tax costs. That would have assuaged a lot of the potential rioters.

Tedfredrick

Both parties are the smart ones. They are all getting rich and we are not.

dan

If you own an EV, you’re not doing shabby on the economic front. Save the tears.

Ocean Railroader

I kind of feel that way when I see people driving around in $80,000 dollar cars while I’m subsisting off of half the poverty line line a year and can’t find a living wage job.

Honesty I think automation and outsourcing and AI will do far more Damage to us Havenots and human society then Global Warming will.

Ron M

GOP is the party of the rich just look at who got the vast majority of the TAX Plan they passed. As far as tax plan will pay for itself explain 100 billion budget deficit for October, or expected near trillion dollar deficit for 2019.

Cypress

Yes, becuase that’s how you help your country gain advanced mfg and technology jobs and know-how, by ceding it to countries like China with strong EV incentives and mandates. /s

What a dipstick.

Mister G

Exactly and when China becomes an EV manufacturing leader we can all blame Trump supporters for that mess.

William

I knew tRUMP and Swamp Drainers would try and “MAGA” the Federal Tax Credit go away.

Our POTUS Don McDeath says: “Out, damned spot! out, I say!”

Somebody, anybody, please help by getting a proverbial banana, and stuffing it up, and/or down either, and/or both, of those deplorable Orange tailpipes.

https://youtu.be/a_1OVYsLqMU

Tedfredrick

If electric cars are so good why do they need incentives? Used electric cars have been going up in value lately. Why because they are good

REXtoCheckMate

When do we cut off the oil industry from subsidies and deductions. Cannot they too stand on their own two feet with out sucking off the government?

Kdawg

You do realize that used EVs already have the tax credit baked into the price, right?

Cypress

How about change it so that it only applies to EVs built in the US? Encourage automakers to build here.

Nix

That would violate a number of treaties we have. We would first have to withdraw completely from all of those treaties, or the US would be substantially penalized for violations, and would face legal challenges in the courts that would overturn the laws anyways.

Paul Smith

Ah, nobody expects Trump to keep his word anyway. Signed contracts mean nothing to him.

Kdawg

Pretty much. He even has trouble figuring out where to sign (with his giant Magic Marker).

Will

Lol. All Trump can say that EV from other countries pose national security due data collecting(China) and the courts will say yes since he owns the courts

Nix

Even Justice Roberts is getting sick of the current administration’s crap, and understands that the current administration won’t be in office forever.

@Brian_Henderson

So WH proposing to end incentives between 2020 & 2021. These incentives created in Bush W era … and will expire for Tesla and GM by 2020.

In other news, Thump reducing tariffs on imports from China to near zero%. With GMs operations in CHINA being a joint partnership; there’s really nothing from stopping a partner from selling in US of America.

Still not seeing how any of this punishes GM? Eliminating the incentives IMHO would actually belief GM and Tesla as it would Level playing field. Customers would not have an advantage to shop other EV brands.

Anyway in a couple weeks, it will be 2019 … a new year and a new set of players in Congress. We guaranteed to see a A few more temper tantrum‘s … but hard to say if/when any EV incentive programs will be revised.

Of note … Congress has yet to sign off on NAFTA related renegotiated. There are many balls in play … some will score, some will be kicked out of play.

M Hovis
EVs are here to stay, but transitional subsidies can speed or slow their adoption. Legacy companies have to ride a fine line of making profits on their old technologies while keeping up with the EV disruption. As for US markets, it would be wise to remember what happened to the big three the last time they built the car they wanted us to have opposed to the car that people wanted. As for Trump, everything he does is in support of oil. All the hate and crazytown is to distract from oil. If we had his tax returns we would know all we need to know about his dealings with the very oil-rich Russia and oil companies. Tom, is right that his movements don’t hurt GM rather helps them. While Trump is attacking EV subsidies, how about the oil subsidies? The subsidies covering the billions of dollars in climate disasters. Don’t buy that? How about the billions of dollars spent on asthma attacks, work days lost, etc from particulate matter entering the bloodstream from the burning of fossil fuels. Or how about the military subsidies paid for protecting foreign oil. It’s really not US oil or foreign oil, it’s BP,… Read more »
F150 Brian

Too much logic, you have provided. Understand, Trump will not.

Kdawg

Trump put a climate change skeptic and ex-lobbyist for coal in charge of the EPA. It’s like it’s opposite-day every day in this administration. I guess what he meant when he said “drain the swamp” was “NOT drain the swamp”.

F150 Brian

Up here in the great white north we invoked the collective facepalm when Trump was elected and rolled on the floor laughing ever since.
But then we elected Doug Ford and now I sympathize while remaining in disbelief over how such a thing could happen.

OK, back to the article…
How does it make any sense that punishing GM will help American jobs ?!?!?!?!?!?!

Pushmi-Pullyu

The phrase “make sense” should never appear in the same sentence with “Trump”. But then, neither should “president”.

Lou Grinzo

Wait — what makes you think that ANYTHING he says or does has any goal except to help himself? The purpose of this statement is to [1] get attention and [2] rile up his base by infuriating his non-base. Remember, his base only needs to see “the other guys” mad for them to be happy.

Mister G

Wow you nailed it.

Kdawg

I’m really not sure why anyone even pays attention to Trump anymore. Or Huckasans. You are only going to get fed hot air & lies. Don’t even bother going to the WH press briefings or trying to ask Trump questions while he stands next to a helicopter. Unless you like the smell of BS, it’s really a waste of everyone’s time.

Ron M

a little puzzling, as his message didn’t appear to make sense.
Trump only makes sense to his supporters, which makes sense.

Cypress

It only makes sense to his supporters becuase he doesn’t speak in complete sentences or finished thoughts. They fill in the meaning based on their own biases. He “speaks their truth” because they fill it in.

scott

so 2 years away. That’s like 18 Trump years. There will be 100s more manufactured crises between now and then.

Mike

It seems to me that the best way to make America Great Again would be to focus on helping US companies be competitive in emerging technologies. There are so many examples of technologies that were invented (or significantly developed) here, such as solar cells, Lithium-ion batteries, computing, carbon fiber, networking switches,…. yet our financial system/business environment doesn’t provide the time and capitol it takes to develop these technologies. It seems the drive for quarterly profits pretty much kills investment in these companies just about the time the existing development programs such as DARPA stop funding (and you are pretty much out of luck if there isn’t a defense/medical application).

Regardless of what you think of Tesla, you have to admit that without them the US would be a transportation and energy 3rd world country and don’t think the Boeing (or the Russians) was going to invest in reusable rockets. The really sad thing is their ability to raise money is probably largely tied to Musk’s personality and celebrity status.

Milfan

Tesla is prepared anyway and GM is not interested and thats why they closed Volt.
Others will simply discontinue their models which is fine since they are not interested anyway in selling the plugins.

I am expecting many automakers to reduce the price which will look attractive. There is a difference between a Leaf price of $30,000 – $7,500 = $22,500 and a MSRP of $22,500.
With this reduction, people may compare Leaf to Altima and realize that its cheaper and buy more. Provided Nissan sells Leaf.

drpawansharma

No Ghosn no Leaf

Roy_H

And what makes you think that Nissan will just knock off $7,500 from the price of the LEAF? Do you think they want to loose money on each car?

Ziv

“You are going to lose that dog if you don’t fix that loose collar.” Just saying.
Nissan doesn’t lose money on any Leaf they sell. That is an idiotic meme that really has no basis in reality.

Pushmi-Pullyu

“…his message didn’t appear to really make sense.”

In other news, water is wet.

One famous saying is “Every nation gets the government it deserves.” But I really don’t know what we did to deserve this one!

drpawansharma

Collective Lamentations of all the countries you bombed to smithereens.

silversod

Do you think we’ll ever get people of merit in these top jobs? or shall I not hold my breath!

Clive

It is to late for anybody including Trump to stop the Electric Car Disruption.

So everyone just continue to spread the good word, and vote with your wallet.

Nix

GM is just the excuse. The Trump transitional team made clear their intent long ago, they just haven’t been able to make it happen.

James

Finally an end to all those oil subsidies Obama had… /S

Roy_H

No, Trump said he wanted to eliminate all the subsidies created by Obama administration. The oil subsidies have been almost forever. Obama wanted to cut oil subsidies in half but the Republican House wouldn’t let him.

windbourne

whoosh.
The kids today are so deprived of humor.

Ron M

Well Germany plans to reduce CO2 emissions from transportation by 40% from 1990 levels by 2030. So while German manufacturers haven’t built a TM3 yet. There government is supporting there manufacturer’s and mandating clean transportation.
Our government Trump would like to subsidize coal plants because they can’t compete on cost with renewable energy.

Richard Giddens

Germans (and Californians) pay a heavy burden and price for renewable energy.

Elemental

If it were a perfect world, all the fossil fuel subsidies would go towards renewable energy and transportation instead and be available as direct rebates to consumers, instead of tax credits which favor wealthier people with higher taxes.

drpawansharma

Do not subsidize EVs. Just put additional taxes on any ICE vehicle that costs 25K or more.

Tom

Hey guys…
1. It’s a law not a policy so congress would need to get rid of it and that’s not going to happen. Change? Maybe. North America (new NAFTA) build only? Sure, oh by the way for those who think it violates some kind of treaty please give citation of which one you think it violates if North America built only were made the new law. Mess with the sunset method? Sure. But even those changes need a democrat controlled house to go along.
2. Pretty sure he was trying to single out GM with a general threat and not the EV credit overall….doubt he knows what it is.
3. If you get this excited over a barely intelligible tweet, he wins. That’s exactly what he is counting on and you are being used.

Richard Giddens

It’s truly terrible to berate and demean CEO Barra and what appears to be her committed invested great vision of electrification, connectivity, automation and a crash free future. I believe that’s worthy of pursuing and mainstreaming as most of us see this as desirable and attainable, especially now. This is an opportunity! All those people that hate Trump will see more and more EV’s on the roads and EV’s as desirable and fun and Trump will be seen as a colossal party pooper, killjoy , naysaying non adaptive adoptive tech laggard fuddy duddy who ain’t with it. Trump has owned Tesla’s before so I don’t know what the end game is here folks. Seems to me there’s something bigger in play, an economic argument that trumps technical advantage. The Globally exclusive trading US Dollar Currency Reserve Status comes to mind. Since we are buying less and less foreign oil some have conjectured that US economic advantage and trading advantage would end. I dont know.

Stan1

Perhaps there is a grander vision but it sure appears from my seat to simply be a bunch of invested individuals doing what they’ve always done to get their way. They appear to simply not understand that they not only can’t stop this train, but trying to slow it only ensures we get run over. The tech change will keep chugging forward globally regardless. There are plenty enough interests involved to guarantee it.

Nix

1b) It would violate Article 3 of the GATT that states:

“The products of the territory of any contracting party imported into the territory of any other contracting party shall be accorded treatment no less favourable than that accorded to like products of national origin”

the purpose of Article III is to ensure that internal measures ‘not be applied to imported or domestic products so as to
afford protection to domestic production’

https://www.wto.org/english/res_e/booksp_e/gatt_ai_e/art3_e.pdf

The US ratified the GATT in Dec 1994 on a bipartisan 76-24 vote, with 35 Senate Republicans and 41 Democrats voting to ratify the treaty.

(Can’t wait for people who don’t even know what GATT stands for, to come and try to moron-splain to me what GATT rules say….)

Richard Giddens

Don’t mean nuttin’. Throw me in the briar patch sum mo’ brer rabbit…

Steven

He’d have us all driving coal powered cars if he had his way.

Spin

In some places, most EVs are coal powered!

Mister G

A coal powered EV is cleaner than a gas guzzler because EV’s have no tailpipes. CONNECT THE DOTS ON CLEAN AIR WAKE UP

windbourne

wrong.
Coal in china still provides about 80% o their electricity. The problem is that it is dirtier than what gasoline does in their large number of new cars. Obviously, the old cars are disasters.

Ziv

Wyoming is pretty much the most coal powered electrical generation spot in the US and even there a BEV is cleaner than any car that gets less than 40 mpg.

windbourne

For china, Australia, that is true.

scott

The EV incentives/subsidies need to be extended, and changed from a tax credit, to a cash credit.

Dan

Take it back from Tesla too. Instead of opening another plant in US, they went to China to build another one with US tax payer subsidized technology and know how.

Tech01x

The Chinese subsidized a lot of Tesla’s sales. As did the Norwegians. It makes sense to have a major plant on each major market continent.

Do Not Read Between The Lines

They’re building high-volume vehicles in China for the Chinese market.
That’s what we should want for every country or region with a significant population.

Dan

Sad but true! GM stops Volt in the year when it’s going to lose EV subsidies.

theflew

GM sells more Bolt EVs than Volt PHEV and the Bolt EV factory is not closing. Makes you wonder what cells the LG Holland MI plant will produce if they are not needed for the Volt. And what about the Brownstown pack assembly plant that builds the Volt battery pack. I think GM has some things up their sleeve that haven’t been announced.

Dan

If they rearrange the facility to produce voltec or all electric SUVs I am OK with that. If they close it down permanently but instead making replacement models outside US. DEATH TO GM!

Dan

Didn’t Norway end its EV subsidies as well last year?

Do Not Read Between The Lines

No, but some were reduced:
https://elbil.no/english/norwegian-ev-policy/

E.g.
Half-price municipal parking (was free)
Now Half-price on ferries. (Was free)
Next year half-price on toll roads (was free)
Company car tax reduction 40% (was 50%)
Towns can limit access to bus lanes to multi-passenger EVs (was freedom of access)

Dan

Just end subsidies! Put as much import tariffs as other countries! That’s leveling the field!

Terawatt
And look forward to what you just sent around coming around. If you imagine everything you import from China can be made just as cheaply in the US, I look forward to seeing your face when you want to buy your next television, mobile phone, fridge, washing machine, or virtually any other item that costs more than a few bucks. If tariffs are needed to “level the field” then one country being better than another at something is what constitutes an unlevel field. What actually is a level field is one where the same rules apply. If Chinese-made products didn’t need to meet US standards (safety, environmental, electrical, …) but only Chinese standards, there would be a problem. You could say this should also extend to labour practices and health and safety, since lower standards in this regard can definitely give a cost advantage. But then the only logical moves available to you are to argue for harmonized standards in this area, demanding either that US standards are lowered to match those of China, or Chinese ones strengthened to match American ones. Perhaps you would prefer the latter. And that’s understandable, but it puts you in an akward spot when… Read more »
Bjørn Vabo

I hope Trumph actually is cutting all subsidies for all cars and fuels, that would be fair.. But its Trumph

Terawatt

You didn’t notice what he did on coal already..?

Shane

If you are going to report on politics, please try to make the narrative and the headline match the facts.

Dan F.

The EV subsidies were created by law passed by both houses of congress and signed by the president (Bush ll i think). Unless I’m missing something it takes all those parties to change the law.

Gazz

The white house does not seam to have noticed that the subsidy for EVs is not just a GM thing. It’s possible that the tax credit lives on for every one else.

Ron M

The leader of the Whitehouse is like the Scarecrow in the Wizard of Oz but without the brain.

Erste

Hm, I´d say like the Scarecrow but without a heart…

Nelson

“As a matter of our policy, we want to end all of those subsidies, Kudlow said. And by the way, other subsidies that were imposed during the Obama administration, we are ending, whether it’s for renewables and so forth.”

Does that include removing SUV ‘s and pick-up trucks from the Section 179 Deduction? (the Hummer Deduction)
https://www.section179.org/section_179_deduction/

NPNS! SBF!
Volt#671 + BoltEV + Model 3

MAF

Don’t end it–just cap it so it doesn’t apply to “luxury” vehicles. MSRP must be < $40,000 to qualify. Stop giving tax credits to the wealthy.

KumarP

Plenty of non-wealthy people get cars that cost more than that.

Some Guy

GOOD! Most people who buy EVs are upper middle class or rich. They don’t need tax credits anyway with the Republican tax cuts for the wealthy. Maybe prices for EVs will come down thereby helping the middle class buy EVs.

Mister G

What income level for upper middle class?

Randy

Another bigly great orange-hair idea to insure the US will be even less competitive in the world car market and that US carmakers will focus their next-gen (electric) car technology efforts and job creation overseas… What we have come to expect from the party of dumb and dumber.

Terawatt

So Trump is illogical. And you are surprised? 😂

It would be surprising if he tweeted something that made sense. Or was factual. Or just wasn’t downright stupid.

You’ve elected a retard, America. Please don’t do it again.

Kdawg

America didn’t. The electoral college did.

windbourne

actually, this is the third time that we have elected a total moron. reagan and W were idiots as well.

God/Bacardi

Who wrote several draft E.O.s to pull us out of the Paris Agreement? Bob Murray, felon coal mogal…

windbourne

Actually, I am good with both.
Far better to kill these subsidies and then re-do things smarter:
1) we need to implement a slowly increasing tax on gas/diesel. Have it go up by .01/gal each month for 50-100 months.
2) require the gas portion to go to the state where collected, and all of this to be used for infrastructure only.

Drop the wind/solar subsidy and instead, do a subsidy for CLEAN energy. That means wind and solar, but also hydro, geo-thermal, tidal, and nuke power.

The first will do-do our failing infrastructure while encouraging ppl/businesses to move to EVs.
The second will enable our shutting down fossil fuel while rebuilding our nuke and continuing forward on wind/solar.

I would add 1 more thing which is a subsidy for geo-thermal HVAC.

Nemo

Trump will just let GM’s EV credit expire in the expected way, then claim this as fulfillment of his threat. That’s his MO.