Tesla X is considered an SUV. Seats 7, capacious when seats removed.
Posted on 04/01/2019 12:20:37 PM PDT by jazusamo
Rep. Ro Khanna (D-Calif.) said Monday that he's planning to introduce legislation in the coming weeks to expand the electric vehicle tax credit and link it to domestic manufacturing, calling the bill a way to help both the environment and the economy.
"That's a pretty concrete application of how the Green New Deal can create jobs in the United States," Khanna, the first vice chair of the Congressional Progressive Caucus, told reporters.
Under current law, people who purchase new electric vehicles can receive a tax credit of up to $7,500. The amount of the credit phases out after a manufacturer has sold more than 200,000 electric vehicles in the United States.
In recent months, the IRS has announced that Tesla and General Motors (GM) have each sold more than 200,000 vehicles eligible for credits of $7,500, so those who purchase Tesla electric vehicles after Jan. 1 and those who purchase GM electric vehicles after April 1 will receive smaller credit amounts.
Khanna said that under his legislation there would no longer be a cap of 200,000 and the credit would be fully refundable at the time of purchase, but the credit would be linked to automobile companies producing vehicles in the United States.
The legislation comes after GM closed a plant in Lordstown, Ohio, last month, drawing criticism from President Trump and lawmakers on both sides of the aisle.
"Instead of Trump yelling at the GM CEO on Twitter to open up factories, which has no effect other than storing up his base, this would say to GM, open up those factories and you can make electric SUVs because the government is actually going to help subsidize that," Khanna said.
Trump's fiscal 2020 budget proposes repealing the electric vehicle tax credit, which the administration estimates would reduce the deficit by $2.5 billion over 10 years.
The legislation also comes as leading progressives have championed a Green New Deal to reduce greenhouse gas emissions and create green jobs. Khanna said that his bill would be a specific example of how to boost jobs while also benefiting the environment.
"What we're interested in doing is putting some very concrete suggestions on what win-wins would look like for industry and jobs and the environment, so that we can cut through the noise and misinformation campaign that the Republicans have been waging against the Green New Deal," he said.
“If these cars are a great idea and value, there would be no need for the transfer of money from productive innocent people to those who would like an electric vehicle.”
I agree wholeheartedly. I don’t think that electric cars are an environmental panacea, but there are advantages regarding performance. That said, the downside is not fully known yet. It is likely, nonetheless, that there will be an increasing number of electric cars made over the next 3-5 years, and they may come to dominate the market in that time. If so, prices will come down from competition. We don’t need to subsidize people for being ‘stylish’.
WOOHOO! The free golf cart is back!!
“That’s a pretty concrete application of how the Green New Deal can create jobs in the United States,” Khanna, the first vice chair of the Congressional Progressive Caucus, told reporters.”
she’s absolutely correct! That is EXACTLY how the GND works: taxpayer money subsidizing things that couldn’t exist without taxpayer subsidies, in this case expensive toys for the wealthy ...
I wonder how much money Elon Musk gave this guy.
Musk is on record begging Congress to _end_ the tax credits.
Yep, it sure is.
Tesla X is considered an SUV. Seats 7, capacious when seats removed.
Subsidies (the endless supply of taxpayer funding) is the base for his Ponzi scheme. Without subsidies Tesla and Musk will definitely go under.
Y’all oppose the mortgage tax credit, right? and don’t take any other deductions/credits?
Electric cars are a good step forward in automotive technology. Tesla would be about where it is without “subsidies” ... though, being available, Musk would have been stupid to not leverage their existence for all they’re worth. If you have a problem with that, whine at your legislator - not Tesla.
Tax cuts are a good thing. Lacking those, let’s get whatever credits passed we can. Don’t confuse “credits” with “funding”: there’s a difference between keeping more money you earned, vs stealing it from others.
Solyndra was given a huge pile of taxpayer money, and promptly disappeared.
Tesla wasn’t, is producing high-quality high-tech cars for reasonable prices (under $30K now), and has paid more in taxes than the “subsidies” total.
Every Democrat is a complete economic dunderhead and ignoramus. Breaking every window in a building will create lots of Democrat job just as digging ditches and filling them in also creates Democrat jobs.
Robbing Peter to provide an EV tax credit to Paul may create a new EV job, but all the stuff Peter was going to buy in the first place will not be bought.
How can they honestly think hiking taxes to steal from Peter to give to Paul increases jobs? That is truly a zero sum game. GROWING the economy is what creates jobs.
There is no “Musk’s Ponzi scheme”. He has personally paid more in taxes than the subsidies (figured at around $5B, he wrote a tax check for $2.5B in 2016).
Tesla has been making high-demand cars for years, few complaints. You can buy one now (including around $30K, very competitive price). That he plows profits back into expanding production is not “Ponzi”. The tax credits are nice, but hardly a make-or-break factor.
Contrast Solyndra, which produced absolutely nothing and disappeared within months, $ never to be found.
Coal-powered?
Didn’t you know—electricity grows on trees! :-)
Have been for since the beginning, also electric cars weigh as much or more than gas powered cars, this includes those hybrids that are oh so wonderful and the electrics pay no road tax and hybrids less by far than conventional vehicles, so we the taxpayer also subsidize all the road wear tear caused by their great ecobullshit cars. Those cars also create more hazardous waste in their battery production and disposal thatn conventional vehicles in their lifetimes.
That's over $3 billion between them...use them tax credits by stopping them to consumers and putting them into the Wall....
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Very well said! That would do way more good for our Nation.
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