[Raille]

Originally Posted by JM71

Any idea when Biden is going to sign the bill? I searched Google and Whitehouse.gov and couldn’t find anything on the timing. I’m trying to work with my dealer to get something in place before he signs it. Clock is ticking…

It could be at any moment, but officially just sometime this week. I've been keeping the news on refresh too.

[TurtleBoy]

He is on vacation in SC and then going to Delaware for a bit from what I read and planned on stopping by DC and doing the signing in the next few days.

[scLA]

Originally Posted by TurtleBoy

He is on vacation in SC and then going to Delaware for a bit from what I read and planned on stopping by DC and doing the signing in the next few days.

I'll reiterate my stance that it's crazy to me that tax policy can change on a dime like this. Tax policy changes should take place year end only. Imagine if suddenly all of the 2022 tax rules just changed for tax brackets, capital gains, estate taxes, etc. People plan for the current tax rules and should have reasonable notice of any changes.

[WER2XU]

I do believe there is wiggle room for the Secretary of the Treasury to make adjustments to bill implementation post ratification...hopefully Janet Yellen will inject some calm into this thing post signing.

[pjbm4]

Originally Posted by techwhiz1

That sales manager just violated California law. That deposit is expressly refundable.

I talked to the finance manager at my dealership yesterday and he indicated that in California there is no such thing as a binding contract until you sign a purchase agreement, take delivery and finally drive off the lot.

I also ready the CVC statuteyself.

At any point prior to driving off the lot you can ask and get a full refund.

That deposit is refundable in California because an illegal contract is no contract at all.

I agree and know that I could get my deposit back if warranted; however, I plan on getting the car in less than a month as it is on its way to Port Hueneme. With the agreement I signed, email strings, and an updated VIR that says "Priority 1-Sold", I think I can claim the tax credit in good faith.

[TurtleBoy]

Originally Posted by slazLA

I'll reiterate my stance that it's crazy to me that tax policy can change on a dime like this. Tax policy changes should take place year end only. Imagine if suddenly all of the 2022 tax rules just changed for tax brackets, capital gains, estate taxes, etc. People plan for the current tax rules and should have reasonable notice of any changes.

That could definitely happen. As the Supreme Court has constantly ruled, retroactive tax law changes are constitutional in all but the most rarest circumstances and there is no right to expect them not to change. Last I saw, there have been none of those rare circumstances.

[TurtleBoy]

The signing will be tomorrow so today is the last day to obtain binding contracts for the Transition rule.

https://www.marketwatch.com/story/bi...ays-2022-08-15

[Kenny C]

That's unfortunate. Anyone think BMW will split the cost with its customers?

[TurtleBoy]

Originally Posted by Kenny C

That's unfortunate. Anyone think BMW will split the cost with its customers?

Not a chance.

[mclark2112]

Crap, I was on the fence about getting a Mach-E or an i4 to replace my X3 M40i. Looks like I'll be heading the Mach-E route. Maybe a little Z4 will make it into the garage as a concession prize...

[Maverick241]

Originally Posted by moodyhank82

"FINAL ASSEMBLY.—The amendments made by subsection (b) shall apply to vehicles sold after the date of enactment of this Act."

If I understand this part correctly, as soon as POTUS signs this bill into law, even deliveries this year (the ones after POTUS' signature and before 1/1/2023) will only get $3,750 in federal tax credit since the i4 is not assembled in North America.

Incorrect. It gets zero credit. Must be made in NA to get anything.

[PfizerP]

Any word on if BMW will shift production to NA?

[TurtleBoy]

Originally Posted by PfizerP

Any word on if BMW will shift production to NA?

Wouldn't be eligible if they did.