I tend to side with Elon on this issue. Tax credits are bad for everyone. They create a false market that collapses when the incentive is removed. Free market system works better on its own.
Sent from my iPhone > On Jan 8, 2018, at 11:14 AM, brucedp5 via EV <[email protected]> wrote: > > > > http://reason.com/blog/2017/12/18/tax-credits-for-electric-cars-wind-energ > Final GOP Tax Bill Retains Tax Credits for Wind Energy, Electric Cars > Dec. 18, 2017 Christian Britschgi > > Some subsidies never die. > > Electric CarsTyphoonski/DreamstimeIt's hard as hell to get rid of a > government handout once it's been established. The beneficiaries, > concentrated and organized, will fight tooth and nail to keep any program > that lines their pockets. The mass of taxpayers, by contrast, have little > incentive to go to war over a few dollars off their paycheck. > > Consider the congressional Republicans' tax bill. The final version of the > legislation retains tax credit programs for electric car buyers and > renewable energy producers. > > This is a dramatic change from the first version of the law—the House's Tax > Cuts and Jobs Act, introduced in early November. That would have zeroed out > both the Plug-In Electric Vehicle Tax Credit and a tax credit program for > renewable energy production that is used mostly by wind farm owners. > > Unsurprisingly, interest groups are cheering the preservation of the > programs. "This credit supports innovation and job creation while helping > drivers access advanced vehicle technology," announced the Electric Drive > Transportation Association. "Keeping the plug-in vehicle credit in place is > the right policy for consumers and for the nation." > > The tax credit is a good deal—for makers and consumers of electric cars. > First established in 2010, the electric vehicle program awards a maximum > $7,500 tax credit to the purchasers of full electric cars; buyers of hybrid > cars get a smaller credit. The benefits of the subsidy accrue to a > vanishingly small number of predominately wealthy consumers. > > Only 563,710 electric vehicles have been sold in the United States as of > 2016, according to a report from the International Energy Agency (IEA). Of > these, slightly less than 300,000 are truly electric, the rest being plug-in > hybrids. California, which hands out a $2,500 tax credit for electric car > purchases in addition to the federal subsidy, has seen 83 percent of its > electric car tax credits go to people with annual incomes over $100,000, > according to a 2016 Berkeley study. The House estimated that repeal of the > tax credit, in conjunction with the repeal of several other tax credit > programs, would see federal revenues increase by $200 million by 2027. > > The wind energy credit, meanwhile, costs some $3.4 billion a year. The > program was initially set to expire in 1999, but it has been perpetuated and > expanded since. The House had initially planned to shrink this tax subsidy > and speed up its phaseout, saving about $12.4 billion by 2027. > > The Senate's tax bill retained both credits, and in conference it apparently > was easier to keep the money flowing than to scale it back. By concentrating > benefits and distributing costs, these programs have ensured that they'll > live on. > [© 2018 Reason Foundation] > > > > https://cleantechnica.com/2017/12/10/thanks-popular-pressure-senate-left-electric-car-tax-credit-alone-now/ > Thanks To Popular Pressure, The Senate Left The Electric Car Tax ... > December 10th, 2017 Senate Leaves Electric Car Tax Credit Alone 2017 has > been an interesting year for electric vehicles (EV). We've seen more EVs on > the road and at auto shows internationally, but affordability hasn't changed > that much. Worse yet, in the US, the new administration has been on a > rampage returning to the good old polluting ... > https://c1cleantechnicacom-wpengine.netdna-ssl.com/files/2017/12/Senate-Leaves-Electric-Car-Tax-Credit-Alone.png > ... > https://www.wsj.com/articles/killing-the-electric-car-credit-1512943468 > Killing the Electric Car Credit > December 10th, 2017 The House and Senate are scrambling to reconcile their > tax bills, and one issue is how many loopholes to kill. Here's one that > should be easy: Eliminating the tax credit for electric vehicles. The House > bill nixes the credit for plug-in vehicles, which can run up to $7,500 a > car, while the Senate bill preserves the status quo. > ... > https://www.bizjournals.com/denver/news/2017/12/14/viewpoint-retain-the-electric-vehicle-tax-credit.html > Viewpoint: Retain the electric vehicle tax credit > 2017/12/14 The most prominent example of innovation the EV credit has > inspired is the rapidly expanding number of electric cars, trucks and SUVs > that automakers have produced since it took effect in 2009. From just two > models in 2010, American consumers today can choose from among more than 30 > plug-in, battery-powered > ... > https://www.reuters.com/article/us-usa-tax-autos/republican-tax-bill-retains-u-s-electric-vehicle-tax-credit-idUSKBN1EA00H > Republican tax bill retains US electric vehicle tax credit > 2017/12/15 WASHINGTON (Reuters) - A compromise Republican tax bill released > late Friday does not eliminate a $7,500 electric vehicle tax credit as > Republicans in the U.S. House of Representatives had previously proposed > …FILE PHOTO - An ... (EV) fast charging station is seen in the parking lot > of a Whole Foods Market in Austin, Texas, U.S., December 14, 2016. > https://s4.reutersmedia.net/resources/r/?m=02&d=20171216&t=2&i=1214847249&r=LYNXMPEDBF00W&w=1280 > ... > https://finance.yahoo.com/news/electric-vehicle-tax-credit-safe-004352594.html > Electric Vehicle Tax Credit Is Safe In Republican Tax Bill > 2017/12/16 Consumers under current law are eligible for a $7,500 tax credit > to defray the cost of plug-in electric vehicles. The electric vehicle tax > credit starts to phase out after a manufacturer sells 200,000 plug-in > vehicles. After an automaker hits that point, the $7,500 tax credit is still > available for at least three more months before ... > ... > https://www.theverge.com/2017/12/15/16783298/senate-federal-tax-credit-bill-subsidy-electric-vehicle-lease > Senate looks to pass tax bill that preserves electric car credit > Dec 15, 2017 A bill passed in the House of Representatives last month would > have killed the electric vehicle tax credit that ranges between $2,500 and > $7,500 depending on the size of the vehicle and its battery capacity. A > Senate bill passed later in November kept the credit, along with numerous > other items cut in the House version. > http://cdn.vox-cdn.com/uploads/chorus_image/image/58002899/jgolson_160909_1219_0054.0.0.0.jpg > > > > > For EVLN EV-newswire posts use: > http://evdl.org/archive/ > > > {brucedp.neocities.org} > > > -- > Sent from: http://electric-vehicle-discussion-list.413529.n4.nabble.com/ > _______________________________________________ > UNSUBSCRIBE: http://www.evdl.org/help/index.html#usub > http://lists.evdl.org/listinfo.cgi/ev-evdl.org > Please discuss EV drag racing at NEDRA (http://groups.yahoo.com/group/NEDRA) > _______________________________________________ UNSUBSCRIBE: http://www.evdl.org/help/index.html#usub http://lists.evdl.org/listinfo.cgi/ev-evdl.org Please discuss EV drag racing at NEDRA (http://groups.yahoo.com/group/NEDRA)
