Results 1 to 15 of 15
  1. #1
    Member
    Join Date
    Nov 2011
    Location
    Coral Springs, Florida
    Posts
    10,790

    Inflation Reduction Bill and EVs

    It looks like you will get a $7,500 credit on electric vehicles under $55,000.00. How many EVs are under this amount? When I checked the average cost of an electric vehicle it said $62,000.00. It seems like this credit would be more for chevy volts, Toyota Prius etc.

  2. Member
    Join Date
    Jun 2009
    Location
    Beauregard, Alabama
    Posts
    4,169
    #2
    I am reading many EV’s will not qualify for tax credit.

    Clause in bill the EV must be a high percentage made in USA. Most manufacturers are saying their vehicles will not qualify.

  3. Banned
    Join Date
    Dec 2019
    Location
    New Tampa, FL
    Posts
    1,252
    #3
    Why can't the technology stand on its own without government having to bribe people to buy?

  4. Member
    Join Date
    Nov 2011
    Location
    Coral Springs, Florida
    Posts
    10,790
    #4
    Quote Originally Posted by Charles Prestridge View Post
    I am reading many EV’s will not qualify for tax credit.

    Clause in bill the EV must be a high percentage made in USA. Most manufacturers are saying their vehicles will not qualify.
    Well there goes my Porsche Taycan dream

  5. Stocks/Investments Moderator boneil's Avatar
    Join Date
    Jul 2010
    Location
    Aberdeen, MD
    Posts
    12,147
    #5
    Alot will depend on the final draft, but hybrids might be a real winner. I think the Tesla model Y will qualify, since it's considered an suv. Suvs and trucks get higher price limits. But the other models won't get anything I think. The Chevy Bolt will be a winner, they start in the low 30s I think.

    From what I have heard, and it changes every day, it sounds like the to get the full amount the car has to built in North America, so it includes Canada and Mexico and the battery will need be sourced from our trade partners. And it changes each year that goes by so in 2030 the battery has to be All American. Or something to that affect.
    Thanos was the hero

  6. Member
    Join Date
    Nov 2013
    Posts
    16,927
    #6
    Quote Originally Posted by BarryFL View Post
    Why can't the technology stand on its own without government having to bribe people to buy?
    It would take a very long time for anything to catch up to the subsidies collected by the fossil fuel industry.
    Or aviation, or banking and finance, or technology, or healthcare, or metal, or farming, or insurance, or ...
    Let me add up the largest from fossil fuel and ICE automotive since 2002, it's $17B and $13B respectively.

  7. Member
    Join Date
    Oct 2017
    Location
    St. Peter, Minnesota
    Posts
    3,293
    #7
    Quote Originally Posted by TampaJim View Post
    It would take a very long time for anything to catch up to the subsidies collected by the fossil fuel industry.
    Or aviation, or banking and finance, or technology, or healthcare, or metal, or farming, or insurance, or ...
    Let me add up the largest from fossil fuel and ICE automotive since 2002, it's $17B and $13B respectively.
    Agreed, the government subsidies EVERYTHING in one way or another and a lot more than the EV marketplace.

    I’d still love to see it go zero tax credits, zero subsidies, zero aid programs, zero government backed student loans. Collect the taxes necessary for things the government needs to do…roads, bridges, justice and law enforcement, and school system. There would be a lot of people without a honey pot and they’ll tell you the poor would suffer
    2019 Ford F-150 Platinum (3.5EcoBoost/10spd)
    **Listed FOR SALE**2014 Ranger Z119C w/ Evinrude ETEC 225HO Running Croxton’s Razor 4XL 25P
    Helix 12 Mega G2N’s with Ultrex
    Think like a fish, no matter how weird it gets

  8. Member
    Join Date
    Nov 2013
    Posts
    16,927
    #8
    Quote Originally Posted by XingEyeballs View Post
    Agreed, the government subsidies EVERYTHING in one way or another and a lot more than the EV marketplace.

    I’d still love to see it go zero tax credits, zero subsidies, zero aid programs, zero government backed student loans. Collect the taxes necessary for things the government needs to do…roads, bridges, justice and law enforcement, and school system. There would be a lot of people without a honey pot and they’ll tell you the poor would suffer
    I've called for it a long time ... with zero deductions & no exemptions. Set corporate rates to dead zero as well.
    However, all funds expatriated are fully taxed, all personal income is fully taxed, all benefits are fully taxed too.
    At that point, you're building the country, collecting across the board (progressive tier) and no one escapes it.

  9. Member
    Join Date
    Nov 2011
    Location
    Coral Springs, Florida
    Posts
    10,790
    #9
    Quote Originally Posted by TampaJim View Post
    I've called for it a long time ... with zero deductions & no exemptions. Set corporate rates to dead zero as well.
    However, all funds expatriated are fully taxed, all personal income is fully taxed, all benefits are fully taxed too.
    At that point, you're building the country, collecting across the board (progressive tier) and no one escapes it.
    And ironically they kept the carried interest loophole alive in this bill for private equity.

  10. Banned
    Join Date
    Dec 2019
    Location
    New Tampa, FL
    Posts
    1,252
    #10
    Quote Originally Posted by TampaJim View Post
    It would take a very long time for anything to catch up to the subsidies collected by the fossil fuel industry.
    Or aviation, or banking and finance, or technology, or healthcare, or metal, or farming, or insurance, or ...
    Let me add up the largest from fossil fuel and ICE automotive since 2002, it's $17B and $13B respectively.
    You didn't answer the question, Jimmy. Don't care about whataboutisms. Two or three or four wrongs don't make a right.

    Again, why can't the technology stand on its own merit?

  11. Stocks/Investments Moderator boneil's Avatar
    Join Date
    Jul 2010
    Location
    Aberdeen, MD
    Posts
    12,147
    #11
    Quote Originally Posted by BarryFL View Post
    You didn't answer the question, Jimmy. Don't care about whataboutisms. Two or three or four wrongs don't make a right.

    Again, why can't the technology stand on its own merit?

    Well, I would say that the technology has stood on it's own. TSLA has sold over a million cars without tax credits. People who buy a Tesla model S, X, a Porsche, Lucid, Rivian, Mercedes EV don't care about a $7K tax credit. You start talking about $60-$50K and lower, then yeah the credit might push someone towards an EV. When Ford and Chevy announced their recent plans to invest billions in EVs there was no tax credits at the time.

    That said you won't see me arguing for EV credits. Will it help margins for TSLA, F, and GM? yes, if they raise prices. But another way to look at is that this is simply a tax cut for those who choose an EV.
    Thanos was the hero

  12. Member
    Join Date
    Nov 2013
    Posts
    16,927
    #12
    Quote Originally Posted by NitroZ7 View Post
    And ironically they kept the carried interest loophole alive in this bill for private equity.
    It would have passed with it EXCEPT for Senator Sinema, amazingly.

  13. Member
    Join Date
    Nov 2011
    Location
    Coral Springs, Florida
    Posts
    10,790
    #13
    Quote Originally Posted by TampaJim View Post
    It would have passed with it EXCEPT for Senator Sinema, amazingly.
    Yep. Someone got some serious campaign contributions from the hedge funds or private equity.

  14. Stocks/Investments Moderator boneil's Avatar
    Join Date
    Jul 2010
    Location
    Aberdeen, MD
    Posts
    12,147
    #14
    She'll have a job a Black Rock in the future.
    Thanos was the hero

  15. Member
    Join Date
    Nov 2013
    Posts
    16,927
    #15
    Quote Originally Posted by NitroZ7 View Post
    Yep. Someone got some serious campaign contributions from the hedge funds or private equity.
    Without any politics, or influence, interjected, it made zero sense for it to exist in the first place.
    Not sure why ANYONE would want it to continue. It's made a burning dumpster fire out of things.
    My wish before dying ... one bill, one vote, no amendments, straight single concept legislation.