So both the House and the Senate Tax Bill eliminates the energy efficient credit for certain cars

[still_one]

such as the Nissan Leaf, the plug-in hybrid volt etc.

It doesn't surprise me that the republicans would try to eliminate any incentives for energy efficient cars

In addition, the republicans could make whatever bill they decide on retroactive to 2017.

This means that if someone who currently itemizes deductions and take the personal exemption, might be in for a tax increase since the personal exemption is being removed for both the House and Senate version, and if it is retroactive to 2017, which they can do, people will lose that personal exemption.

Also if someone bought an energy efficient vehicle at the beginning of 2017 in anticipation of a tax credit, they could be in for an unpleasant surprise if they make the new tax bill retroactive to 2017.

and for those wondering if they can actually make it retroactive the answer is they sure can.

[SoCalMusicLover]

1. They Won't Make It Retroactive

Whether they're able to or not, there is ZERO chance the bill will apply to 2017.

[still_one]

2. My accoutant says there is no way of knowing, and it is being considered by Congressional

republicans

http://thehill.com/policy/finance/359108-ariz-lawmaker-asks-for-tax-cuts-be-retroactive-to-2017

http://money.cnn.com/2017/09/12/news/economy/retroactive-tax-cuts-economy/index.html

[SoCalMusicLover]

3. I'm A CPA

All of the tables and withholding amounts were based upon the current law. They would create an extremely chaotic situation by making it retroactive in the final days of the year.

It's just not going to happen.

[still_one]

4. I hope not. Getting rid of the personal exemption I think is going to surprise a lot of middle

class folks who currently itemize deductions, along with of course the elimination of the state income tax deduction which would only magnify that.

[SoCalMusicLover]

5. People Have No Idea How Much This Is Going To Fuck Them

I and most of my clients are in CA. The bill is going to completely screw some people over. Including many repubs. I have some repub clients with several kids, and they will be worse off. Others have Home Equity Loans, or own more than 1 property they deduct Property Taxes on.

I'm confident they will figure a way to place blame on the Democrats.

[still_one]

6. I am in Northern California so I know exactly what you are saying. I sure hope you are not impacted

by the Ventura fires seein your I’d implied southern cal