Congress urged to lift limit on electric vehicle tax credits

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Thread: Congress urged to lift limit on electric vehicle tax credits

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    Congress urged to lift limit on electric vehicle tax credits

    Congress urged to lift limit on electric vehicle tax credits
    Detroit News
    October 13, 2010
    by David Shepardson

    Detroit — The federal government should lift the cap on tax credits for electric vehicles, a top General Motors Co. executive says.

    GM Vice Chairman Tom Stephens praised the government for all of the efforts toward making electric vehicles a reality. But he said he'd like to see Congress lift the cap on the $7,500 tax credit.

    Currently, credit is capped at 200,000 vehicles per manufacturer. He warned that automakers could hit that cap during the first-generation of electric vehicles.

    GM is set to sell about 10,000 extended range electric Chevrolet Volt models over the next year — and 30,000 in 2012.

    The credit — modified by Congress in February 2009 — is expected to cost $2 billion over 10 years.

    Congress also created a separate tax credit of up to 10 percent of the cost of qualified low-speed electric vehicles, electric motorcycles, and three-wheeled electric vehicles — or up to $2,500.

    Electric vehicle advocates and automakers are discussing the future of battery-powered vehicles this week at the second annual Business of Plugging In conference in Detroit.

    As many as 15 electric vehicles and plug-ins are headed to market by 2012.

    Nissan Motor Co. is building a plant in Smyrna, Tenn. that will be able to produce up to 150,000 all-electric Leaf models by 2012 — and the company plans to sell 20,000 imported Leaf vehicles over the next year in the United States. The Energy Department gave Nissan a $1.4 billion loan to build the plant from the $25 billion retooling fund.

    GM has applied for up to $14.4 billion in retooling loans. Stephens said GM still hopes to receive those loans — but said the delay in receiving them hasn't slowed the company's progress.

    Full article at link.

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    Re: Congress urged to lift limit on electric vehicle tax credits

    Irony. When Toyota made this very same proposal on the earlier tax credit back in 2006 for exactly the same reasons there was a furor of vitriol and negativism all over this and other sites like it. Shoe on other foot syndrome.

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    Re: Congress urged to lift limit on electric vehicle tax credits

    Quote Originally Posted by PhishPhood View Post
    Irony. When Toyota made this very same proposal on the earlier tax credit back in 2006 for exactly the same reasons there was a furor of vitriol and negativism all over this and other sites like it. Shoe on other foot syndrome.
    Stupidity. Prius is a hybrid. The Volt and Leaf are electric vehicles.

    Yeah you can try to split hairs like the fools at Edmunds.

    Shoe in the phraud's mouth syndrome....again.

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    Re: Congress urged to lift limit on electric vehicle tax credits

    I don't think the cap should go away, I just think it should be moved upward.

    After the market itself will support a huge number of electric vehicles and they don't need subsidies, I think the money should be transferred to another energy project, like clean diesels.

    It has the potential to be a triumph of our form of socialism.
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    Re: Congress urged to lift limit on electric vehicle tax credits

    I would like to have my house declared a tax free zone as well.
    When buying a car it is best to be loyal to yourself above others. Things like driving pleasure, past personal experience, personal comfort and perceived value are far more important than where or who made your car. Remember, when the new wears off the payments persist. When manufacturers stop getting judged on those qualities, they stop making a superior product. Anyone who makes purchase decisions based solely on national origin is deserving of whatever junk they get.

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    Re: Congress urged to lift limit on electric vehicle tax credits

    While I am not a big fan of ANY government subsidies such as this, it should be adjusted to only kick in when the vehicles are available nationwide. As it sits now, the folks in the favored states where the Volt will roll out will have the ability to jump on the $7500 tax credit that will be denied those folks in "flyover country" who may WANT to purchase a Volt, but can't.
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    Re: Congress urged to lift limit on electric vehicle tax credits

    Quote Originally Posted by Hunid Racks View Post
    Stupidity. Prius is a hybrid. The Volt and Leaf are electric vehicles.

    Yeah you can try to split hairs like the fools at Edmunds.

    Shoe in the phraud's mouth syndrome....again.
    Stupidity, it's spending my friggin tax dollars the way I don't want them to. I'd rather KEEP my tax dollars, and buy the car that I want with NO tax incentive. Thanks for playing.

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    Re: Congress urged to lift limit on electric vehicle tax credits

    Quote Originally Posted by graycav56 View Post
    While I am not a big fan of ANY government subsidies such as this, it should be adjusted to only kick in when the vehicles are available nationwide. As it sits now, the folks in the favored states where the Volt will roll out will have the ability to jump on the $7500 tax credit that will be denied those folks in "flyover country" who may WANT to purchase a Volt, but can't.
    That's a good point that I hadn't thought of, actually.

    The incentives should be used to get the WHOLE nation running more efficient, not to help those poor, starving Hollywood actors.
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    Re: Congress urged to lift limit on electric vehicle tax credits

    remember the guy that buys the electric car is getting your tax money and at GM they have all ready gotten your tax money. this means a tax payer who can not take advantage of the tax credit gets screwed. they are going to raise your taxes to pay for this remember that.
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    Re: Congress urged to lift limit on electric vehicle tax credits

    Quote Originally Posted by motorman View Post
    remember the guy that buys the electric car is getting your tax money and at GM they have all ready gotten your tax money. this means a tax payer who can not take advantage of the tax credit gets screwed. they are going to raise your taxes to pay for this remember that.
    Very true, and it's just not fair. This car is obviously for the wealthy!! Middle class is not interested in a high priced sedan. BUT!! Is this really a bad idea!!? Let's face it, this technology is half-baked at best and that's why I hate the Volt. But, with the blessing from our goverment, manufacturers will proceed to invest in this technology if it leads to profits and sales. CNG is my choice and we're not getting any support for it all. I think we need more tax credits for ANY alternatives.

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    Re: Congress urged to lift limit on electric vehicle tax credits

    Quote Originally Posted by PhishPhood View Post
    Irony. When Toyota made this very same proposal on the earlier tax credit back in 2006 for exactly the same reasons there was a furor of vitriol and negativism all over this and other sites like it. Shoe on other foot syndrome.
    Phooey, phish. Phooey.

    Technology has changed a lot since 2006, so how about if you try to keep up?

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    Re: Congress urged to lift limit on electric vehicle tax credits

    Quote Originally Posted by Suziebob View Post
    I think the money should be transferred to another energy project, like clean diesels.
    Agreed! Clean Diesels shouldn't have to take a back seat to coal powered electric cars!!!
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    Re: Congress urged to lift limit on electric vehicle tax credits

    This kinda goes against the new CEO's political ideology doesn't it? It's just more wealth redistribution... Either that or running up the national debt even further. I thought we were against that stuff?

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    Re: Congress urged to lift limit on electric vehicle tax credits

    Quote Originally Posted by motorman View Post
    remember the guy that buys the electric car is getting your tax money and at GM they have all ready gotten your tax money. this means a tax payer who can not take advantage of the tax credit gets screwed. they are going to raise your taxes to pay for this remember that.
    Universities are publicly funded and they only serve the top 10% of students. Stupid people get screwed.

    The trails to the top of Half Dome and Angel's Landing are publicly funded. People with acrophobia get screwed.

    Police and Fire-fighting services are publicly funded (sometimes), people who aren't the victim of fire or crime get screwed.

    I could go on, and on, and on, but I think you get my point.

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    Re: Congress urged to lift limit on electric vehicle tax credits

    End the tax credits, period. While at it, do away with these silly "Sales-Tax Holiday" weekends that various states have from time to time.

    In an era where governments are running out of money and steadily cutting funding for emergency services, education, etc, just leaving tax money out there makes no sense to me.

    OTOH, I try to stay away from stores on those weekends. Not worth fighting the crowds to save 7.75% in sales tax.
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