With NO backpay.
Posted on 12/10/2018 1:17:32 PM PST by RightGeek
When General Motors announced plant closings and a 15% workforce cut, the plan was to plow savings into electric and autonomous vehicle development, which is seen as the industry’s future.
But selling electric vehicles (EVs) will get tough without a $7,500 credit that the Trump Administration has said will end. Now GM is fighting to keep the consumer tax credit, reported the Associated Press.
[SNIP] Many Republicans say the credit is a subsidy that wastes taxpayer money. The law that provides the credit caps its use when a manufacturer has sold 200,000 vehicles, a number that GM gm is close to reaching. President Trump said he was “looking at cutting all GM subsidies, including for electric cars,” when the company announced that it would close auto plants in the U.S. One of Trump’s campaign platforms was a promise to increase manufacturing jobs.
GM and others, including Tesla and Nissan, are pressuring Congress to end the cap and make the credit available going forward. The tax reduction makes electric vehicles more affordable for many.
(Excerpt) Read more at finance.yahoo.com ...
Even with the $7500 subsidy, people don’t want them...................
GM apparently needs to follow the path of Pontiac.
The UAW running GM doesn’t care about the taxpayers footing that “credit” or whatever they’re calling it now.
Personally, they and GM can pound sand.
“GM Wants Congress to Extend an Electric Vehicle Tax Credit That Trump Dislikes”
NO!
Pass a law that makes Hollywood and Silicon Valley liberals buy one whenever they buy a new Ferrari or Stretch Limo, etc. The see how long they last.........................
“Isn’t it interesting how they can’t make the connection the $7,500 isn’t magic money. It’s taken from taxpayers.”
You don’t think we should be helping make a $60,000 car more affordable?
And Oldsmobile, and Saturn, and Hummer, and SAAB, and .......
With NO backpay.
Better...mandate that the CEO of GM and the other excecutive must drive ONLY this car.
Whatever you tax you get less of.
Whatever you subsidize you get more of.
We have been subsidizing poor people until we have them coming across the border in droves.
We ought to tax them...................
Give it to them ...in exchange for making the tax cuts permanent. Trump supposedly is the king of making deals, right? Or so they say.
I would have said trade it for the wall but there will be no wall.
GM killed the best and most storied names they had (sorry, Cadillac) and kept the mediocre. The amount of money they wasted developing Saturn would have bought them a majority of Toyota at the time!
Remember, it’s not that Trump dislikes it, it’s that we dislike it. Trump is just in the way.
I will consider an electric automobile when they can get 400 miles per charge at 70+ MPH with heater or AC going and recharge in less than 15 minutes...........................
Seems pretty stupid when we have found even more oil for consumption in West Texas.
I was surprised the killed off Saturn at the time. Never liked the name, though.
Should have deleted Buick instead................
Suck an egg, or a lemon, or a Volt, all the same thing.
There is almost no market for electric vehicles. The market is for the subsidy.
So congress confiscates my money and gives it to my BIL and his commie wife who have 5 times the money I have and they got a woody for a Tesla that I could not afford if had any desire for it.
Really frosts me.
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.