Keyword: taxcredit

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  • Steve Forbes: Rich people don't need your money to buy electric cars -- Let's get real about EV...

    04/27/2019 9:27:18 AM PDT · by jazusamo · 58 replies
    Fox News ^ | April 27, 2019 | Steve Forbes
    Full title: Steve Forbes: Rich people don't need your money to buy electric cars -- Let's get real about EV tax creditsAmericans who want to drive electric vehicles should absolutely be free to do so. But the rest of us should not be forced to subsidize their expensive, environmentally questionable choice of cars. Liberal environmentalists have long touted electric vehicles (EVs) as an affordable, low-emission option for middle-class American families, even though the electricity used to power them is most often generated by fossil fuels and the buyers are rarely middle class. The soon-to-expire tax breaks that EV owners receive...
  • Dem to offer bill to expand electric vehicle tax credit

    04/01/2019 12:20:37 PM PDT · by jazusamo · 35 replies
    The Hill ^ | April 1, 2019 | Naomi Jagoda
    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...
  • Paying Just 2% (or less) of a $550 Monthly Premium ($11/Month) is Too Little

    12/12/2018 1:23:18 PM PST · by Brian Griffin · 7 replies
    Brian Griffin | 12/12/2018 | Brian Griffin
    If you had to pay $11/month for unlimited health care cost coverage, you might think health care costs aren't a problem. If you are a Democrat and had to pay $55/month for unlimited health care cost coverage, you might support efforts to rein in health care costs. I believe, effective January 1, 2020, Section 36B(b)(2)(A)(ii) of the Internal Revenue Code of 1986 should read: ‘‘(ii) SPECIAL RULE FOR TAXPAYERS UNDER 133 PERCENT OF POVERTY LINE.—If a taxpayer’s household income for the taxable year is in excess of 100 percent, but not more than 133 percent, of the poverty line for...
  • Congress must not extend the electric car gravy train

    11/21/2018 3:37:08 PM PST · by jazusamo · 15 replies
    The Washington Times ^ | November 21, 2018 | Matt Mackowiak
    Beware of the lame-duck Congress. With the midterm election behind us, the 115th Congress only has a few legislative days remaining before the new Congress is sworn in. Must-pass items are often left to the lame-duck period, when members are freer to vote as leadership needs, absent the pressure of representing their constituency and defending their votes. Recently, another legislative boondoggle has appeared on the radar. Retiring Sen. Orrin Hatch, the Utah Republican and outgoing chairman of the Senate Finance Committee, has an expensive idea. Bloomberg News reported on November 13 that Mr. Hatch said in an interview that “an...
  • If The GOP Repeals The Adoption Tax Credit The Party Should Disband

    11/08/2017 1:24:53 PM PST · by SeekAndFind · 35 replies
    Hotair ^ | 11/08/2017 | AllahPundit
    Does the leadership of this party have actual, diagnosable brain damage? Of all the places in the tax code they could try to find some extra revenue, the supposedly pro-life GOP decides to squeeze … middle-class adoptive families?While funding Planned Parenthood in their budget?While our billionaire president is grumbling privately to Democrats that they should repeal the estate tax, which only bites the mega-rich?We’re past the point of wondering whether the GOP wants to lose. The question now is whether they deserve to lose. Judging from this account by Haley Byrd of the IJR, all signs point to yes:...
  • Paul Ryan Defends Elimination of the Adoption Tax Credit

    11/08/2017 12:41:30 PM PST · by WVMnteer · 29 replies ^ | Lauretta Brown
    House Speaker Paul Ryan (R-WI) defended the repeal of the adoption tax credit in the GOP’s current tax reform bill Wednesday following pushback from fellow Republicans and pro-life organizations. "It is a tax credit that goes to higher income individuals. Middle and lower income people don't get it today," Ryan said during a discussion on the tax reform bill held by the Washington Examiner.
  • Electric vehicle $7,500 tax credit expected to go away with new House tax bill [Confirmed]

    11/03/2017 7:18:11 AM PDT · by NohSpinZone · 33 replies ^ | 11/2/17 | Fred Lambert
    Ever since the election of Donald Trump, electric vehicle enthusiasts feared the possibility of the federal government slashing the $7,500 federal tax credit given at the purchase of a new battery-powered car. Now those fears are coming closer to reality as reports suggest that the program has been removed as part of the new House tax bill.
  • My Revised Proposal's Good Quality Health Coverage Employer Tax Credit

    02/07/2017 3:00:53 PM PST · by Brian Griffin · 20 replies
    Brian Griffin | 02/07/2017 | Brian Griffin
    Good Quality Health Coverage Employer Tax Credit [President Trump has promised to improve health coverage and lower employer tax burdens.] Employers who allow every qualified employee and normally on-site, employer-managed "contracted"/"self-employed" person with at least six months/$6,000 of employment to sign up for qualified care and drug coverage (in the following calendar year) may claim a tax credit of $3 against their federal corporate or personal income tax, but never both, for: 1. each qualified employee who received qualified care and drug coverage from the employer for a week and paid no more than $10 per week for it 2....
  • Impending Y2K-like chaos neither candidate is addressing

    10/13/2016 3:49:34 AM PDT · by rightwingintelligentsia · 26 replies
    Inc. via AOL News ^ | October 12, 2016 | JOHN HEWITT
    The neediest Americans will be short $100 billion in delayed tax refunds at a time when they're really counting on it. Chaos may ensue, an issue neither presidential candidate is addressing. In June, I sounded the alarm on How Congress is About to Screw Up the Economy in an Unprecedented Way. The more we learn about the PATH Act of 2015, however, the louder this alarm needs to be. First, a short primer on what's happening. The PATH Act stands for Protecting Americans from Tax Hikes. As a headline, it sounds commendable and does include legislation for more than $620...
  • Hot Tesla Model 3 to Get Unneeded $1.5 Billion Tax Subsidy

    04/28/2016 11:47:41 AM PDT · by jazusamo · 24 replies
    NLPC ^ | April 28, 2016 | Mark Modica
    Tesla Motors recently reported that it has received close to 400,000 orders for its yet to be released, $35,000 Model 3. Most of the pre-ordered vehicles are not even expected to be delivered until after 2018. While congratulations may be in order to Tesla for seemingly developing a mainstream electric vehicle (EV) that has so much consumer interest that demand is far outpacing supply, one question must be asked. Why the hell is the vehicle being subsidized to the tune of $1.5 billion in future tax credits? If Tesla has proven that EVs can be profitably manufactured, it is...
  • GM Finally Puts Cadillac ELR Out Of Its Misery

    02/03/2016 9:47:36 AM PST · by jazusamo · 26 replies
    NLPC ^ | February 3, 2016 | Mark Modica
    Here's one that wasn't hard to see coming. General Motors has announced that it is ending production of the Cadillac ELR , which was essentially a gussied upChevy Volt at twice the price. You can call this one a mercy killing as the overpriced, pseudo-green, government-subsidized vehicle was doomed for failure as low sales figures reflected the lack of value offered by the vehicle. That failure was predicted here back in December of 2013 when the ELR was rolled out. As with the sales-challenged Chevy Volt, most of the media bought into the Cadillac ELR hype, calling it a...
  • Group Makes Sure Taxpayers Know About Earned Income Tax Credit (Another $6,000 Cash Welfare Scam)

    Taxpayers could be losing up to $6000 of they don't apply for a certain tax credit, Channel 9's Steve Barrett reported. Volunteers from Heart of Florida United Way's (HFUW) "Financially Fit" are going door to door to some homes in Central Florida to make sure taxpayers are aware of the Earned Income Tax Credit. The group said it is also making sure low-income taxpayers know that they qualify for free tax assistance. "It's around $6,000 that they can get for the Earned Income Tax Credit. It's based on your income and the number of people in your household. Then, getting...
  • BETC abuses, excuses merit a full-scale accounting of what went wrong: Editorial

    08/06/2015 8:59:51 AM PDT · by Twotone
    The Oregonian ^ | August 5, 2015 | Editorial Board
    The Oregon Secretary of State's office was quick to assert to The Oregonian/OregonLive's Ted Sickinger that its inquiry into the state energy department's chronically troubled tax-credit program is "not an audit." Which raises the obvious question: Why not?
  • Loss of Health Care Subsidies Would Impact South More than Anywhere Else

    06/16/2015 4:16:08 PM PDT · by Up Yours Marxists · 9 replies
    The Telegraph (Macon) ^ | June 16, 2015 21:23 UTC | Tony Pugh
    WASHINGTON — (...) The U.S. Supreme Court will soon decide whether the subsidies can continue for 6.4 million people in 34 states who use the federal insurance marketplace at (...) More than 4.1 million people, or nearly two out of three who could lose their subsidies in the case this year, live in just 13 Southern states – Alabama, Arkansas, Florida, Georgia, Louisiana, Mississippi, North Carolina, Oklahoma, South Carolina, Tennessee, Texas, Virginia and West Virginia. Read more here:
  • "Assault Weapon" Tax Credit Bill would Encourage Manufacturers

    04/08/2015 5:41:37 AM PDT · by marktwain · 39 replies
    Gun Watch ^ | 7 April, 2015 | Dean Weingarten
     Representative Rosa DeLauro Democrats in the House of representatives are expected to reintroduce legislation that would grant a federal $2,000 tax credit for turning in a gun to a local, state, or federal government authority.   The guns listed normally sell for far less than $2,000.  There are many millions of them legally possessed by individuals.  Admittedly, even if the bill were passed, it is unlikely that more than a few million people would take advantage of it, so the drain on the Treasury wold be less than 20 billion dollars.  That is hardly noticeable in our runaway, trillion...
  • Dems: Pay gun owners to hand over assault weapons

    04/06/2015 10:40:22 AM PDT · by jazusamo · 154 replies
    The Hill ^ | April 6, 2015 | Tim Devaney
    Gun owners would receive tax breaks for voluntarily turning in high-powered assault rifles under new legislation proposed Monday. The Support Assault Firearm Elimination and Education of our (SAFER) Streets Act expected to be reintroduced next week by Rep. Rosa DeLauro (D-Conn.) would provide gun owners with an incentive to turn in their firearms to local police departments. “Assault weapons are not about hunting, or even self-defense,” DeLauro said . “There is no reason on earth, other than to kill as many people as possible in as short a time as possible, that anyone needs a gun designed for a battlefield.”...
  • Get Credit for Your Retirement Savings Contributions

    02/27/2015 10:44:38 PM PST · by 2ndDivisionVet
    You may be eligible for a tax credit if you make eligible contributions to an employer-sponsored retirement plan or to an individual retirement arrangement. Here are six things the IRS wants you to know about the Savers Credit: 1.Income Limits The Savers Credit, formally known as the Retirement Savings Contributions Credit, applies to individuals with a filing status and income of: • Single, married filing separately, or qualifying widow(er), with income up to $27,750 • Head of Household with income up to $41,625 • Married Filing Jointly, with incomes up to $55,500 2.Eligibility requirements To be eligible for the credit...
  • $56B: EITC Payouts Hit Record

    02/09/2015 4:46:26 PM PST · by Olog-hai · 17 replies
    Cybercast News Service ^ | February 9, 2015 - 5:18 PM | Ali Meyer
    The “refundable portion” of Earned Income Tax Credit (EITC) payments hit a record $56,189,578,000 in 2012, the latest year for which the Internal Revenue Service has made data available. A total of $64,128,627,000 in Earned Income Tax Credits was claimed in 2012. Of that, $56,189,578,000 was the “refundable portion”—paid out if the Treasury in excess of the net taxes the recipient owed. That means that only $7,939,049,000—or 12.4 percent—of the total Earned Income Tax Credit amount in 2012 was used for a tax reduction. […] “The EITC expansion is garnering some Republican support, but I think that is a big...
  • Tesla D Buyers Shouldn't Get Tax Credit

    10/16/2014 1:45:48 PM PDT · by jazusamo · 33 replies
    NLPC ^ | October 16, 2014 | Mark Modica
    Environmentally conscientious, wealthy car enthusiasts are in luck! The much-hyped "D" unveiling came last week as Tesla CEO, Elon Musk, presented what appears to be a very impressive version of its plug-in Model S electric car called the P85D. Boasting 691 horsepower, 687 ft/lb of torque, AWD and a blazing 3.2 second zero to sixty time, the new rich peoples' toy is expected to cost in the neighborhood of $120,000. In fact, the car is so darn impressive that the only obvious question is why in the world do we need to give the affluent purchasers of cars like...
  • Chevy Volt Resale Values Plunge as Lease Returns Hit Market

    08/08/2014 9:06:15 AM PDT · by jazusamo · 46 replies
    NLPC ^ | August 8, 2014 | Mark Modica
    It has been two years since General Motors admitted that there was little demand for the Chevy Volt (as reported here)due to there being "no plug-in market." Their answer was to "create market" to drive sales for the politically popular but economically-nonviable Volt. GM manipulated sales for the Volt through the use of subsidized leases at a time when President Obama's favorite, green wonder-car was being criticized for low sales as it failed to live up to the early hype. GM was able to use taxpayer money in the form of electric vehicle tax credits to help drive down...