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Tesla is about 125k cars into the 200k limits that qualify for the 'full' 7500 EV credit.
after the 200k units sold in the US, my understanding is that this amount is cut in half every quarter, until eliminated (or something like that...).
Currently, that 200k US units sold mark is scheduled/anticipated to be reached mid 2017.
Can Trump, on day 1 (ie. 1/20/2017), eliminate this federal incentive? and how long before this would take effect?
immediate?
or after the end of the quarter in which the order is signed?
I didn't know:
1) There was a $7500 EV tax credit
2) Tesla has only sold 125k (I see so many of them!)
I don't think Trump is going to go after it in his first day. I really don't. There are so many other pressing issues that his supporters want to see accomplished... specifically repealing and replacing the ACA, immigration and border protection, improving infrastructure and securing American jobs.. cutting taxes too, but that won't happen in the first day.
I think it's more likely he'll let them expire without extension.
But if you really want a tesla and the tax credit the prudent choice would be to bite the bullet and buy it in the next couple of months.
Why do people even ask questions like this? Nothing happens immediately on a president's first day. If it did, we would have a dictatorship, not a republic. They have to get stuff through Congress first. Surely, a thinking man would know this.
Tesla is about 125k cars into the 200k limits that qualify for the 'full' 7500 EV credit.
after the 200k units sold in the US, my understanding is that this amount is cut in half every quarter, until eliminated (or something like that...).
Currently, that 200k US units sold mark is scheduled/anticipated to be reached mid 2017.
Can Trump, on day 1 (ie. 1/20/2017), eliminate this federal incentive? and how long before this would take effect?
immediate?
or after the end of the quarter in which the order is signed?
Theoretically, it could be done by executive order. Unlikely it will actually happen though.
Why do people even ask questions like this? Nothing happens immediately on a president's first day. If it did, we would have a dictatorship, not a republic. They have to get stuff through Congress first. Surely, a thinking man would know this.
Actually I think it's the "thinking man" that is prone to what I consider to be slightly irrational worrying. My husband is creating some impressively disturbing Trump scenarios... way, way beyond rescinding $7500 EV tax credits. The evening of the election (1am) he ran out of the house to get a bunch of cash (which was amusing to watch given that ATM limits us, to like, $500 bucks). He's got a plan for us to immigrate to Uruguay, Chile or Argentina (because nobody thinks about South America???)... yesterday he spent money on a subscription to something that either Niall Ferguson or Thomas Friedman writes (or some other smart dude) so he can stay informed... I don't know...
anyway, he's card carrying member of the cognitive elite (PhD) and he's practically losing his mind (at least a good percentage of productivity) to wondering about questions like this.
Someone who can afford a $100K+ Tesla is probably not staying up nights worrying about whether they will lose a $7500 tax credit. The EV rebate does not apply to the Tesla 3 ($35K) model.
Why would Trump eliminate this already established tax-credit incentive ... even if he could or wanted to ... on the first day(?) -- Sounds like someone is running around like their hair is on fire over nothing.
Someone who can afford a $100K+ Tesla is probably not staying up nights worrying about whether they will lose a $7500 tax credit. The EV rebate does not apply to the Tesla 3 ($35K) model.
Why would Trump eliminate this already established tax-credit incentive ... even if he could or wanted to ... on the first day(?) -- Sounds like someone is running around like their hair is on fire over nothing.
Explain how EV rebate "does not apply to Tesla 3". It may very well run out by the time someone's preordered Tesla 3 is shipped, but it most certainly applies. Besides, from what I'm reading, the credit won't automatically go to zero. It is gradually phased out the year a manufacturer reaches 200K cars sold in US.
To the original question - no, I don't think Trump will start rewriting tax code on day 1. That includes tax rates, brackets, elimination of HOH filing status etc.
No. president is only an official placeholder quite limited in his or her immediate decisions.
The president's power is limited by a system of checks and balances written into the United States Constitution. The legislative and judicial branches have specific power to deny or impede the executive branch's actions.
It's only in the movies president gives an order or signs something and it is boom done. In reality, fella has his hands tied just fine.
Same actually goes for ANY person in any managerial position. You simply can not act as you wish. Fire someone, etc.
Unless you are an absolute dictator and have absolute power to order whatever that will be executed with no questions asked.
Trump will fast enough find that running a country is not running privately owned corporation.
The tax code is LAW. The president cannot change the law. Only Congress can do that (but the president does have a role in the legislative process, he can sign or veto the changes they make).
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