You’ve all heard by now that VW figured out a way to trick the government agencies that monitor vehicle emissions in order to get better environmental ratings on its line of “clean diesel” cars.
Well, here’s a new wrinkle: how do taxpayers get paid back on the $50 million in “clean energy” tax credits that buyers received to help purchase the fraudulent automobiles?
— Timothy Cama (@Timothy_Cama) October 7, 2015
— Alison Gerber (@aligerb) October 9, 2015
More from the Detroit News:
The Senate Finance Committee on Tuesday said it was opening an investigation into Volkswagen AG’s use of about $50 million in tax credits for diesel cars that the automaker has now acknowledged have software that evades emissions rules.
In a letter to VW CEO Matthias Muller and VW’s top U.S. executive, Michael Horn, Senate Finance Chairman Orrin Hatch, R-Utah, and the ranking Democrat, Ron Wyden of Oregon, want VW to answer questions about tax credits for cars that are among the 482,000 diesel vehicles that had “defeat devices” on them allowing them to emit up to 40 times allowable pollution in real-world driving.
Keep in mind that these tax credit were instrumental in selling the cars:
Current VW Offers Ending 2/1/10!! $1300 Tax Credit, APRs as low as 0% for 60 months, Low $259/month Payments, and… http://fb.me/7ZZGceM
— Joe Pecheles (@JoePecheles) January 27, 2010
Don't forget the $1300 IRS tax credit goes down to $650 as of July 1 for all diesel powered VW's. Don't wait! Come on in to see me today!
— Emil Wilkowski (@emil_bobkingvw) June 30, 2010
Great selection of +40mpg VW Jetta TDI's all Best Priced! $1300 tax credit available.
— Mankato Motors (@MankatoMotors) June 4, 2009
Even worse, the liars at VW wanted team Obama to allow credits designated specifically for electric cars to go toward the purchase of the fake-clean diesels:
I can personally attest to the arrogance: VW: $50 Million In Tax Credits, Wanted Electric-Car Credits For Diesels Too http://t.co/H5zWHYo6Lr
— John Voelcker (@johnvoelcker) October 8, 2015
Now the question is, “who pays back the government?” Will it be the buyers of the car, which would mean refiling tax returns or will VW pay?
And another problem is the reduced value of the cars people already own:
VW expected to start recall in Jan 16. Until VW owners can't easily sell "yep cars yours but expect to lose it for a few days next year"
— Stu (@_Alfista) October 7, 2015
VW is taking care of their dealers, but not American who bought the cars or U.S. taxpayers who financed them:
Horn says VW is providing a discretionary fund to dealerships in order to help them be flexible while they can't sell new diesel cars.
— Kyle Feldscher (@Kyle_Feldscher) October 8, 2015
Not right, VW.