Build back American bill passes [ CLOSED DUE TO DELETED POLITICS POSTS]

[Zyvin]

The best part is, that it costs nothing.

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[EaglesPDX]

Sorry, no incentives for people who can afford to pay full price.

New credit applies to all.

The bill changes the EV tax credit to fully refundable so even if you have zero tax liability or don't earn enough (>$70k+/-) for the full rebate you can claim it.

Idea is to motivate people to buy EV's something we need to as a matter of US national policy.

 

[Sgt Beavis]

If I read correctly, because the senate intends to pass the bill using reconciliation, it will not require going back to the house. I could be wrong but that's how I understood the process.

If nothing is changed it doesn't have to go back to the house, but it is expected that the senate will change it which will make it go back.

Sotek is correct.

 

[Garbone]

Sweet, so if I get the Poverty edition F150 for $38k I get $12k back from Uncle Sugar. Grifting is good as long as it is for me and not for thee. Funny, that tax credit is better than what I got per year for the first few years I was in Uncle Sams Navy.....

 

[PungoteagueDave]

If I read correctly, because the senate intends to pass the bill using reconciliation, it will not require going back to the house. I could be wrong but that's how I understood the process.

Nope, any changes will require a vote in both houses.

 

[EaglesPDX]

Grifting is good as long as it is for me and not for thee

Biden's bill fixes the EV credit so it applies to EVERYBODY.

Idea it to boost EV sales. All ideas welcome.

 

[Whiskey]

Has any members commenting really bothered to read the BBB? The .pdf vs has’s 2,468 pages for your enjoyment. Come on Ford, open up the order banks and let’s see who wants the Lightning without any tax credits. Anybody reading this know how to put up one of them polls? I’d be interested to know who’s buying without tax credits? Who’s buying only with tax credits?

 

[tkeru408]

Has any members commenting really bothered to read the BBB? The .pdf vs has’s 2,468 pages for your enjoyment. Come on Ford, open up the order banks and let’s see who wants the Lightning without any tax credits. Anybody reading this know how to put up one of them polls? I’d be interested to know who’s buying without tax credits? Who’s buying only with tax credits?

I, for one, am buying regardless but the threshold of the tax credit eligibility will dictate my model choice. I have no desire to buy an $80,001 truck for full sticker when an $80,000 truck will only cost me net $67,500.

 

[Pioneer74]

What would you want to do with your tax dollars, give more tax breaks to the wealthy and corporations for no public good?

BBB does this too by upping the SALT cap. Tax cut for the wealthy.

 

[F150ROD]

Either way Our Tax Cut ends in 2025…. Maybe the order banks will be open by then

 

[vandy1981]

I, for one, am buying regardless but the threshold of the tax credit eligibility will dictate my model choice. I have no desire to buy an $80,001 truck for full sticker when an $80,000 truck will only cost me net $67,500.

I'm in the same boat. It's probably irrational but I can't ignore the feeling that a $1 MSRP increase actually ends up costing me up to $12,500.

 

[vandy1981]

BBB does this too by upping the SALT cap. Tax cut for the wealthy.

The bill is not going to pass the House without upping the current $10,000 cap. That's a political reality. I anticipate the current cap ($72,500 for joint filers) will be reduced but not eliminated if the Senate sends a bill back to the House.

People on both ends of the political spectrum seem to have issues with SALT. I'm not going to comment on the merits of SALT deductions, but I'm amused that the Right has finally found a tax cut that they don't like.

 

[Nick Gerteis]

It costs the government nothing, just drains the wallets of the poor taxpayer, their children, their grandchildren, their great grand children…

The only people that will see their taxes go up is those making over 400K/800K filing married. Not “poor “ in my book.

 

[PungoteagueDave]

The bill is not going to pass the House without upping the current $10,000 cap. That's a political reality. I anticipate the current cap ($72,500 for joint filers) will be reduced but not eliminated if the Senate sends a bill back to the House.

People on both ends of the political spectrum seem to have issues with SALT. I'm not going to comment on the merits of SALT deductions, but I'm amused that the Right has finally found a tax cut that they don't like.

Means justifying the ends and vice versa. Disgusting.

 

[adoublee]

The only people that will see their taxes go up is those making over 400K/800K filing married. Not “poor “ in my book.

I consider a massive drop in buying power a tax increase. Taxes are going up folks.

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