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$12,500 tax credit possible?

sotek2345

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Ok so I haven't dug through the entire infrastructure bill that was released in its final form last night? Anyone see if this is still present or if it is going to be put into different legislation (or possibly off the table)?
No, but it does have some funding for expanding EV charger locations.

the tax credit will come (if it does) in the larger budget bill they will try to pass through reconciliation.
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Even Elon Musk recently said the EV tax credits have gone from being a benefit to being a detriment.
Tax credits are a detriment to Tesla specifically, as they no longer qualify. So buyers are now looking at other brands just to get that credit. My mom just bought an EV and the lack of a tax credit on the Model 3 was almost enough to send her to another brand. Even if the net price was nearly the same.
 

greenne

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No, but it does have some funding for expanding EV charger locations.

the tax credit will come (if it does) in the larger budget bill they will try to pass through reconciliation.
$7.5B for chargers. About half as much as requested, but still the first substantial funding of EV chargers. We're way behind Europe and China....
 

Sgt Beavis

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Ok so I haven't dug through the entire infrastructure bill that was released in its final form last night? Anyone see if this is still present or if it is going to be put into different legislation (or possibly off the table)?
It’s not in this bill. It’s in a 2nd infrastructure bill that the Democrats will pass using reconciliation. This bill is the bipartisan bill. Too many Republicans are opposed to expanding the EV tax credit to get it into this bill.
 

JStone-Esq

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Certainly in the long run States will have to replace any lost revenue from gas taxes. Annual vehicle registration is probably a better source than taxing electricity as more people install solar panels..
 

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EaglesPDX

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What happened to @PungoteagueDave? All his posts in this thread disappeared. He had strong views on the equity of the EV tax credit but was drving a Tesla, had solar powered home, the kind of things more Americans should do and so few who can afford to do both do at all.
 

EaglesPDX

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Certainly in the long run States will have to replace any lost revenue from gas taxes. Annual vehicle registration is probably a better source than taxing electricity as more people install solar panels..
Best to tax the oil at producer and importer level so government can show no tax at pump and let the oil companies be the bad guy.
 

greenne

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What happened to @PungoteagueDave? All his posts in this thread disappeared. He had strong views on the equity of the EV tax credit but was drving a Tesla, had solar powered home, the kind of things more Americans should do and so few who can afford to do both do at all.
His posts are back....I can see them. Did you get blocked somehow? LOL
 

Whiskey

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Certainly in the long run States will have to replace any lost revenue from gas taxes. Annual vehicle registration is probably a better source than taxing electricity as more people install solar panels..
The state of Colorado is already charging folks way beyond reason for annual registration on vehicles AND at least LaPlata county will NOT refund you if you sell your vehicle before years end. NOTE: they won’t charge a damn dime for all the bicycles hogging up the road.
 

Sgt Beavis

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The state of Colorado is already charging folks way beyond reason for annual registration on vehicles AND at least LaPlata county will NOT refund you if you sell your vehicle before years end. NOTE: they won’t charge a damn dime for all the bicycles hogging up the road.
Weld county will refund you. I don't know if that's the exception or not in Colorado.
I don't believe they'll make up the gas tax difference with car registration I think we'll see either toll roads everywhere, or we'll be taxed per mile driven. Frankly, I'm hoping it'll be a tax per mile since I telecommute everyday.
 

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greenne

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Weld county will refund you. I don't know if that's the exception or not in Colorado.
I don't believe they'll make up the gas tax difference with car registration I think we'll see either toll roads everywhere, or we'll be taxed per mile driven. Frankly, I'm hoping it'll be a tax per mile since I telecommute everyday.
TBH I think road repair needs to be based partly on vehicle weight. Trucks and heavy vehicles do the most damage to pavement.
 

Nick Gerteis

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TBH I think road repair needs to be based partly on vehicle weight. Trucks and heavy vehicles do the most damage to pavement.
Correct, road damage goes up by weight increase squared, so a large truck will do 1000s of times the damage of a car. Road taxes need to be based on vehicle weight and annual miles driven for all vehicles, and we can cancel the gas tax. A little harder to compute, but certainly doable and much more fair.
 

Sgt Beavis

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TBH I think road repair needs to be based partly on vehicle weight. Trucks and heavy vehicles do the most damage to pavement.
You have a good point there. With gas taxes, the heavier vehicles use more gas, and thus pay more taxes. That doesn't work on a per mile basis unless you account for it during registration.
 

EaglesPDX

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His posts are back....I can see them. Did you get blocked somehow? LOL
No idea. I noticed that his posts were gone and in replies to several people, his quoted posts were also gone.

Usually blocking means people can't send you messages, not that their public posts are removed. Usually that is admin or person deleted their messages.
 

greenne

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Correct, road damage goes up by weight increase squared, so a large truck will do 1000s of times the damage of a car. Road taxes need to be based on vehicle weight and annual miles driven for all vehicles, and we can cancel the gas tax. A little harder to compute, but certainly doable and much more fair.
I agree with this 100% and don't mind paying my fair share as long as long as businesses do as well. The problem is this poses all sorts of political problems. This may become less of an issue with EVs, but the public doesn't understand realize that a large majority of gas price is taxes. Anytime you mention higher taxes most people simply shut down.

Experiment: Tell a person they could either pay for gas at $3.00 per gallon which works out to say $1500 a year (hypothetical example) OR they could pay $2.00 per gallon(which works out to be a fuel cost of $1000/yr) with eliminated gas tax but at the end of the year pay $500 in extra taxes for road repairs. I'll bet by a very wide margin people would vote for the higher gas price with a retort like "I don't want to pay the government any more taxes".

Americans are by in large ignorant of how taxes are supposed to work. Its all a psychological thing and has been that way since Reagan....
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