Tag: Taxes

By on September 29, 2017

nafta-secretariat

President Donald Trump entered into office threatening to abandon the North American Free Trade Agreement if the United States was not given a better deal immediately. But, after negotiations began, it looked as if his ultimatum would be unnecessary.

Now, U.S. officials involved in NAFTA negotiations are being accused of making proposals on issues Mexico and Canada have said they would never agree to. Are these bold negotiation tactics being used to place the U.S. in a better position for future issues, or are trade arbitrators intentionally trying to sabotage talks so Trump can make good on his promise to leave the agreement?   (Read More…)

By on August 21, 2017

money (401(k) 2012/Flickr)

There’s few things people living in the U.S. can agree on, but one of those things is the state of American road infrastructure. For the most part, it sucks. Eisenhower’s long gone, but his network of interstate highways, plus the spiderweb of two-lane roadways cross-crossing every corner of America haven’t grown better with age.

Meanwhile, the U.S. federal gas tax remains unchanged since its last hike in 1993. Still locked at 18.4 cents per gallon, the infrastructure funding shortfall created by the static federal tax is spurring states to pass their own gas tax increases. Michigan, California, and — controversially — New Jersey are among the most recent examples.

Still, boosting prices at the pumps only works if drivers still visit those pumps. What of the coming self-driving car wave, the vanguard of which are high-tech electric vehicles piloted by mere humans? Enter the taxman and his slim book of ideas. (Read More…)

By on May 7, 2017

vehicle-inspection

The Lone Star State may be doing away with annual state vehicle inspections soon. On Thursday, a 27-4 vote in the Texas Senate approved a bill that would eliminate mandatory inspections for passenger vehicles. Although Senate Bill 1588 doesn’t change anything for commercial trucks, they’ll still be required to undergo a yearly safety inspection, and automobiles residing in seventeen counties will also have to pass emission tests for local air-quality laws.

For the rest of the state, it would be open season. “This is a tax cut that Texans will feel,” claimed Senator Don Huffines, a Dallas-based Republican who approved the bill. “It will save Texans $130 million they’re now having to pay for a procedure that has proven to have no discernible safety benefit to drivers.”  (Read More…)

By on February 1, 2017

BMW Group CEO Harald Krüger says the automaker fully intends on sicking with its current investment strategies in Mexico and the United States, even after President Donald Trump’s proposal to levy steep import taxes on vehicles brought into American borders.

“We need free world trade,” Krueger told the CAR Symposium automotive congress in Bochum, Germany, on Wednesday. (Read More…)

By on January 26, 2017

Donald Trump

Consumer products and vehicles produced outside of the U.S. could see a big hike in sticker price if the Trump administration goes ahead with a proposed plan to tax Mexican goods — and eventually all foreign goods — to the tune of 20 percent.

The White House said today the measure is being looked at as part of a wide-ranging tax overhaul package under consideration by Congress. The announcement came after an anticipated visit by Mexican President Enrique Pena Nieto went south. (Read More…)

By on October 1, 2016

new jersey (Shinya Suzuki/Flickr)

After enjoying zero add-ons to their state gas tax since 1988, New Jersey residents are about to get a shock at the pumps.

The Garden State will raise its gas tax by 23 cents a gallon as early as next week in order to fund state infrastructure projects, the New York Times reports. The move raises the tax from the second-lowest in the country (14.5 cents per gallon) to above the national average.

As bad as this may seem to residents used to low, low pump prices, there’s a trade-off. (Read More…)

By on June 23, 2016

new jersey

A looming bump in New Jersey’s gas tax would mean fewer drivers from neighboring states crossing the Hudson and Delaware Rivers to take advantage of the state’s famously low pump prices.

The state’s transportation fund is almost empty, roads and bridges need repairs, and Democrat lawmakers and select Republicans are putting pressure on Governor Chris Christie to send the gas tax skyward, according to the New York Times.

How much higher? Try 23 cents/gallon more. (Read More…)

By on December 2, 2015

StateLibQld_1_119880_Traffic_congestion_on_Kingsford_Smith_Drive_at_Hamilton,_1954

Probably not. 

According to a study by the National League of Cities, only 6 percent of future city plans consider the potential impact autonomous vehicles will have in the next few years, including driverless car lanes and scaling back parking as ride-share services become more popular.

The study collected transportation plans of the 50 biggest U.S. cities, as well as the most-populous cities in every state. In all, 69 city plans were amassed and studied for future traffic and road plans.

Despite automakers rushing to put autonomous cars on the road by 2020, the study suggests that many cities won’t be able to adequately accommodate those cars, nor will they adapt fast enough to changing transportation modes that may challenge conventional public transportation and infrastructure wisdom.

(Read More…)

By on November 24, 2015

Volkswagen Polo

German investigators are looking into whether Volkswagen executives or engineers broke laws by lying about carbon dioxide emissions in 800,000 cars sold in Europe, the New York Times reported.

Authorities near the automaker’s headquarters in Wolfsburg say they are focused on five Volkswagen employees, but wouldn’t identify those employees. Investigators are determining if Volkswagen employees knowingly provided false information to authorities about those cars and their emissions to qualify those cars for lower tax rates. In admitting that it lied about its emissions levels this month, Volkswagen said it would repay governments for back tax revenue lost because of the bogus claims.

This month, Volkswagen admitted it underestimated carbon dioxide output from 800,000 cars sold in Europe and said the scandal could cost the company more than $2.1 billion. According to the New York Times report, Volkswagen’s admission included a promise to repay taxes owed on owners’ cars it sold with bogus carbon dioxide numbers.

(Read More…)

By on September 6, 2015

traffic

California electric vehicle drivers may pay $100 more in registration fees each year under a proposed bill that aims to raise $3.6 billion each year through gas taxes and fees that would repair and maintain California’s roads, according to the Associated Press (via Autoblog).

The proposed fees would be a sweeping reform to transportation funding that would increase California’s gas taxes by $0.10 per gallon, add $35 to vehicle registrations and increase vehicle fees by 35 percent over five years.

Already, gas and oil companies are lining up against the proposal. (Read More…)

By on September 3, 2015

Tesla Building Circa March 2015

According to the Tesla Motors Club, the referral program that would award one Model X to a lucky loyalist in exchange for referring 10 new Model S buyers may already be over. “Kevin2686” may likely be the North American winner for the free Model X considering he managed to refer 10 new buyers.

Forum members say Kevin2686 spam posted his referral link, and indeed on a CNET news story about the promotion a user named “Tesla2000” offered $1,000 up front and $1,000 later with a link to Kevin2686’s referral code. In Tesla’s relatively vague referral language:

“Please note that we may withhold credits, discounts or other awards where we believe customers are acting in bad faith or otherwise acting contrary to the intent of this program.”

This may not end well.  (Read More…)

By on July 14, 2015

NB_23Tesla2.jpg

All power is not created equal.

That’s one of many takeaways from a comprehensive study by the National Bureau of Economic Research, one of the nation’s prominent think tanks.

The paper focused on the relative impact of green-energy cars, concluding that an electric car in New Jersey doesn’t have the same environmental impact as an electric car in California.

The initial reaction has been largely surface-deep: electric cars on the East Coast and in the South are powered by “dirty energy” and aren’t as clean as their gas-powered counterparts. That much is a quasi-fair assessment — the source for the electric cars’ power should be considered when it comes to ultimately determining their environmental impacts.

The study, however, is a larger look at the federal subsidies offered on electric cars.

(Read More…)

By on December 10, 2014

IMG_5239-450x299

Quebec’s love affair with small, efficient cars is well-known around these parts. And a new government measure will only further enable that, as Quebec is set to raise annual vehicle registration fees based o vehicle’s displacement size.

(Read More…)

By on August 6, 2014

Delphi-Logo

From Bloomberg’s Zachary Mider comes a new allegation regarding the restructuring of (formerly) American parts maker Delphi: the Treasury Department under Obama helped the company re-incorporate in England as part of a tax avoidance strategy. If that’s true, it’s an embarrassing revelation for a President who recently condemned American companies that incorporate abroad as “corporate deserters.” Like many things in the financial world, however, appearances are often deceiving.

(Read More…)

By on January 29, 2014

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Now that Sergio Marchionne has succeeded in joining Fiat and Chrysler together, for his next act he’s planning on moving Fiat’s headquarters out of Italy. While such a move has tax advantages, it would present a political and public relations challenge for Fiat and Marchionne in their home country. According to Reuters, the new entity, dubbed Fiat Chrysler Automobiles, will be a Dutch-based company with a UK tax domicile, while shares are listed on the NYSE with a secondary listing in Milan.

Marchionne is aware that locating the headquarters outside of Italy, where Fiat has operated for 115 years and has received government funding, or outside the United States, where Chrysler was bailed out by the federal government, could make waves and there is the possibility that the Italian government might intervene. “I’ve seen weirder things happen,” Marchionne said to journalists at the recent Detroit auto show. “So I sincerely hope they don’t create obstacles.” (Read More…)

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