10 votes

White House seeks to end subsidies for electric cars, renewables

1 comment

  1. dubteedub Link
    It seems like this is what Trump's advisors have come up with after Donald threatened to revoke General Motors tax subsidies via tweet last week....

    It seems like this is what Trump's advisors have come up with after Donald threatened to revoke General Motors tax subsidies via tweet last week.

    Very disappointed with General Motors and their CEO, Mary Barra, for closing plants in Ohio, Michigan and Maryland. Nothing being closed in Mexico & China. The U.S. saved General Motors, and this is the THANKS we get! We are now looking at cutting all @GM subsidies, including....

    ....for electric cars. General Motors made a big China bet years ago when they built plants there (and in Mexico) - don’t think that bet is going to pay off. I am here to protect America’s Workers!

    https://twitter.com/realDonaldTrump/status/1067494680416407552

    What has been humorous about this whole process is that the White House / Trump does not have the authority to revoke and tax credits, that is under the purview of Congress.

    So now rather than "cutting all GM subsidies," his team has come up with this plan that they will seek to end these subsidies sometime in 2020 or 2021.

    What is funny about the battery vehicle tax credit though, is that it is based on a cap that phases out once a company sells 200,000 battery cars. GM, Tesla, and Nissan are all either about to hit that cap or have already done so. So if the credit as it stands ends by 2020 or 2021, it won't even matter for General Motors since it would have already phased out for them.

    Similarly, the Investment Tax Credit for wind, solar, and other renewables is also set to phase out automatically by that time period as well.

    Basically, this is just more bluster and empty threats on behalf of the White House to cover up for Trump's behavior.

    9 votes