Impact of incoming green federal legislation - gas guzzler trade-in program for a BEV?

[UW2]

Heard Chuck Schumer say in passing that a new law would allow you to trade in your gas guzzler for a BEV, presumably with greater $$$ than current offers from dealers. Any guesses/insight into what this could possibly mean? Perhaps we save additional $10K by buying the car in 30 days when the (dreamed of) law passes?

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[Davedough]

Can he please wait until I get my GT because trading in an ICE is exactly what I'm doing

 

[Mach-E VLOG]

Heard Chuck Schumer say in passing that a new law would allow you to trade in your gas guzzler for a BEV, presumably with greater $$$ than current offers from dealers. Any guesses/insight into what this could possibly mean? Perhaps we save additional $10K by buying the car in 30 days when the (dreamed of) law passes?

Do you have a link to his proposal or the law in question?

 

[UW2]

Do you have a link to his proposal or the law in question?

Unfortunately no. He just mentioned it in passing in his 30 min interview with Rachel Maddow last night.

 

[Johnny]

Don't get your hopes up. Schumer has been talking about this for a long time.

https://www.theverge.com/2019/10/25...-trade-in-gas-discount-proposal-zero-emission

 

[UW2]

Don't get your hopes up. Schumer has been talking about this for a long time.

https://www.theverge.com/2019/10/25...-trade-in-gas-discount-proposal-zero-emission

Thanks for this link, at least it tells me what he is referring to. My hopes are up because now Mr. Schumer is in a position to do something about all this.

 

[Mach-E VLOG]

Unfortunately no. He just mentioned it in passing in his 30 min interview with Rachel Maddow last night.

OK, that's what I figured. A quick Google and I found some of the interview as well as an article. There are a lot of ifs. If Schumer can convince Biden to declare a National Emergency for Climate then they could use the reconciliation process to pass laws more easily on climate change. If that happens, he would then have to actually come up with a proposal that all 50 Democratic Senators would agree on (WV could be an issue for sure). A lot of Ifs.

Biden is pushing from faster EV adoption so there could be support for something like that, but there aren't many details. Would it just be a tax credit? GM and Tesla have lobbied to extend the Fed tax credit. Would they do something like Cash for Clunkers? I haven't heard much discussion about that.

TLDR - I wouldn't make any financial decision on what might happen with all those ifs.

https://www.foxnews.com/politics/schumer-suggests-biden-declare-climate-emergency

 

[UW2]

OK, that's what I figured. A quick Google and I found some of the interview as well as an article. There are a lot of ifs. If Schumer can convince Biden to declare a National Emergency for Climate then they could use the reconciliation process to pass laws more easily on climate change. If that happens, he would then have to actually come up with a proposal that all 50 Democratic Senators would agree on (WV could be an issue for sure). A lot of Ifs.

Biden is pushing from faster EV adoption so there could be support for something like that, but there aren't many details. Would it just be a tax credit? GM and Tesla have lobbied to extend the Fed tax credit. Would they do something like Cash for Clunkers? I haven't heard much discussion about that.

TLDR - I wouldn't make any financial decision on what might happen with all those ifs.

https://www.foxnews.com/politics/schumer-suggests-biden-declare-climate-emergency

Thanks for the advice, so agree, no financial decision based on a whiff of a rumor. At the same time, I do predict something bigsize on the climate front from Congress.

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