Tax Credit will likely end in 2025

[Vermonter2011]

I visited Woodstock Soapstone (great stoves, by the way) and they told me that the 30% biomass tax credit is on the chopping block.

The bill hasn't passed yet, but the current plan is to end the tax credits on these at the end of this tax year (2025).

We will see, of course, but watch carefully as the bill gets fought over and see what is eventually passed. The time to replace a woodstove appears to be now to be safe (if they end the tax credit as of 12/31/25, the woodstove manufacturers will be packed with orders between now and the end of the year, and then orders could fizzle).

 

[begreen]

It may be the kiss of death for some stove companies when combined with the tariff induced price increases that are already showing up.

 

[Vermonter2011]

Sadly.

 

[BKVP]

 

[Dieselhead]

One may say wood stove sales are going to be “hot” before the end of the year😉

 

[begreen]

One may say wood stove sales are going to be “hot” before the end of the year😉

We'll see. The price increases so far are pretty stiff this year due to tariffs on steel and Canadian items. That may dampen sales.

 

[Dieselhead]

We'll see. The price increases so far are pretty stiff this year due to tariffs on steel and Canadian items. That may dampen sales.

I see what you did there. 😎

Along with lower KwH and home heating oil prices (at least in my area) you may be correct.

 

[BKVP]

Since the 7/4 announcement, retailers report increase in both foot traffic and sales. Generally, late August is when we see a upward trend.

BKVP

 

[begreen]

It will depend on whether Aug. 1 is a real deadline or another Mexican sandwich.

 

[Highbeam]

It will depend on whether Aug. 1 is a real deadline or another Mexican sandwich.

I wonder if some of the manufacturers such as SBI or BK that have factories in Canada and the US can be creative to avoid tariffs. Shifting production, or parts of production. I believe that my BK Princess was made in Canada so would be subject to a tariff as well as a loss of the fed rebate.

I like mexican sandwiches more than high stove prices.

 

[Todd]

Good, the government shouldn’t be picking winners and losers with subsidies for any industry. Educate not regulate!

 

[Eman85]

Don't want to pay for education either, edumicated people are woke or gay.