Trump Helped Nix Electric Car Tax Measure Sought by Tesla, GM

[Zorro]

The expansion of a tax credit for electric vehicles isn’t likely to appear in a broad deal being negotiated by House and Senate leaders, and backers of the popular tax break say President Donald Trump is to blame.

“There has been extreme resistance from the president,” said Senator Debbie Stabenow, a Michigan Democrat who has championed the $7,500 tax credit for consumers who purchase an electric car. She said Monday it was unlikely to be expanded.

“I don’t know why the White House would want to stop jobs and the future of the auto industry,” she said.

The credit is a legislative priority for automakers such as Tesla Inc. and General Motors Co.

White House officials warned lawmakers that if they tried to expand the electric vehicle credit as part of a compromise spending bill, it could tank the measure, according to two people familiar with the matter. The issue is particularly heated in the West Wing and among conservatives who view the credit as mainly benefiting rich Californians and Tesla.

https://www.bloomberg.com/news/articles/2019-12-16/trump-helped-nix-electric-car-tax-measure-sought-by-tesla-gm

For Tesla, the tax credit -- although nice to have -- has been significantly reduced due to the company surpassing the 200k sales threshold; cancelling the tax credit will probably affect other car manufacturers entering the electric car market a lot more.

But in general it's another dick move by Trump and this administration, since the feds and state governments provide $20+ billion annually to subsidize the fossil fuel industry.

[Brother Buzz]

1. Tesla is made in California, get it?

If they moved production to, say, Indiana, the orange anus would be rolling out the red carpet.

[Initech]

5. Yup, trying to stick it to us as much as possible.

He'll still lose our votes in 2020 no matter how hard he tries.

[coti]

2. Fuck Trump. nt

[Eliot Rosewater]

3. we were looking at getting one but need the credit, so his plan to force us not to is working

[Initech]

4. God damn him.

I am really looking at the Ford Mustang Mach E, but I would need the help of the tax credit in order to be able to afford it. No credit, no sale. Fuck this god damn administration. :grr;

[MichMan]

6. Hard to convince many voters buying 5 yrs old used cars with loans

costing $7000 on why the taxpayers need to pay someone $7500 for buying a new electric car.

Does it make sense from a standpoint of supporting new technology? Likely, but hard to convince a lot of people that could only buy a new vehicle if they won the lottery.

[Zorro]

7. Taxpayers aren't paying anyone $7500

It's not a rebate. It's a tax credit against the taxes a buyer has paid.

There is a difference.

[MichMan]

8. The buyer still reduces their taxes either way like any other tax credit.

Money that they otherwise would have owed the IRS.

[Zorro]

9. Yes but it's still their tax money

not from other taxpayers.