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EV and Battery Credits
- Thread starter Buckminster
- Start date
Looks like you can buy either a BOLT, Hyundai, or Leaf. That might incentivise about 12 people!
Hopefully, someone with some sense will be modifying this $40,000 price limit.
electrek.co
Hopefully, someone with some sense will be modifying this $40,000 price limit.
US Senate puts $40,000 cap on price of electric cars that qualify for EV tax credit ahead of reform
The US Senate has voted to approve a non-binding resolution setting a $40,000 threshold on the price of electric cars...
electrek.co
Sorry, that's Elon Math. $36.7 billion a year is the fact (CBO calculation).
Not anywhere near the $1.9 trillion tax gift (break) for corporations and the top 10% handed out in 2108. Of which my small business got $0.
Go rebate!
CBO estimates that enacting this legislation would result in a net increase in the deficit totaling $367 billion over the 2022-2031 period, not counting any additional revenue that may be generated by additional funding for tax enforcement.
This estimate is based on language in two documents, which are available from the House Committee on Rules:
Rules Committee Print 117-18, Text of H.R. 5376, Build Back Better Act
Rules Committee Print 117-18, Yarmuth Amendment 112
Not anywhere near the $1.9 trillion tax gift (break) for corporations and the top 10% handed out in 2108. Of which my small business got $0.
Go rebate!
CBO estimates that enacting this legislation would result in a net increase in the deficit totaling $367 billion over the 2022-2031 period, not counting any additional revenue that may be generated by additional funding for tax enforcement.
This estimate is based on language in two documents, which are available from the House Committee on Rules:
Rules Committee Print 117-18, Text of H.R. 5376, Build Back Better Act
Rules Committee Print 117-18, Yarmuth Amendment 112
US EV tax credit renewal still in play, but the added union bonus credit is out.
Manchin says EV Tax Credit Bonus Is Gone From Spending Bill
Senate Democrats have scrapped a $4,500 bonus tax credit for electric vehicles made with domestic union labor that was opposed by Senator Joe Manchin as they seek to wrap up negotiations on a spending deal.www.bloomberg.com
STILL HOPEFUL for proposed tax credit. Manchin must have got a big promise.
But it's not so much about the manufacturers as it should be about stimulating and rewarding the environmentally conscious.
Hey, it is a drop in the oil bucket compared to the coal, oil, and natural gas subsidies of $5.9 trillion in 2020 — or roughly $11 million every minute. Ya, those guys who are currently gouging the marketplace.
Here's the scoop on the proposed tax credits.
Probably retroactive for 2022.
flip.it
Keep watching the Sinema
But it's not so much about the manufacturers as it should be about stimulating and rewarding the environmentally conscious.
Hey, it is a drop in the oil bucket compared to the coal, oil, and natural gas subsidies of $5.9 trillion in 2020 — or roughly $11 million every minute. Ya, those guys who are currently gouging the marketplace.
Here's the scoop on the proposed tax credits.
- Tax credit for EVs maintained at $7,500
- Eliminates tax credit cap after automakers hit 200,000 EVs sold, making GM and Tesla once again eligible
- The language in the bill indicates that the tax credit would be implemented at the point of sale instead of on taxes.
- In order to get the full credit, the electric vehicle needs to be assembled in North America, the majority of battery components need to come from North America, and contain a certain percentage of minerals from countries with free trade agreements with the US.
- A new federal tax credit of $4,000 for used EVs
- Zero-emission vans, SUVs, and trucks with MSRPs up to $80,000 qualify
- Electric sedans priced up to $55,000 MSRP qualify
- The full EV tax credit will be available to individuals reporting adjusted gross incomes of $150,000 or less, $300,000 for joint filers
Probably retroactive for 2022.
Senate moves forward with EV tax credit reform; Tesla (TSLA) to be included back and more
The US Senate is going to move forward with a sweeping new bill after Senator Joe Manchin finally accepted to...
flip.it
Video 1
Those friends of the oil boys and men with deep pockets don't really get it.
According to them, we are approaching the 5% tipping point which will move us from first adopters to the tipping point and result in no need for an EV incentive. Ok, I understand. It's a selfish attitude that is all about making money in the present and who cares about the future!
The way I look at it, the EV tax credit should be less of an "incentive to buy" and more of a "reward for buying and contributing to accelerating the transition to sustainable transport. Vehicle purchasers who are conscious of their contribution to the environment should be rewarded.
Video 2 Very informative. Thank you very much for sharing.
Those friends of the oil boys and men with deep pockets don't really get it.
According to them, we are approaching the 5% tipping point which will move us from first adopters to the tipping point and result in no need for an EV incentive. Ok, I understand. It's a selfish attitude that is all about making money in the present and who cares about the future!
The way I look at it, the EV tax credit should be less of an "incentive to buy" and more of a "reward for buying and contributing to accelerating the transition to sustainable transport. Vehicle purchasers who are conscious of their contribution to the environment should be rewarded.
Video 2 Very informative. Thank you very much for sharing.
As a TSLA investor I am happy with it despite the PHEV inclusion.
However, they are right that it is a poor use of money at a poor time. Money should go towards mining of battery materials IMO.
This might be the missing piece.
Why subsidize EVs with a tax credit?
At 5% EVs, we haven't even reached the tipping point. Research reveals for every $1000 offered as a rebate or tax credit, it increases average sales of electric vehicles by 2.6%.
The purpose is to ACCELERATE the demand, REWARD the environmentally conscious, and ENCOURAGE the manufacturers to produce lower-cost EVs for the blue-collar worker like Hyundai is doing. GM and Toyota are still asleep at the wheel.
To accelerate the world's transition to sustainable energy.
The REAL WASTE of taxpayer money IS the $5.9 Trillion In subsidies for Fossil Fuels,
According to a new analysis from the International Monetary Fund, coal, oil, and natural gas received $5.9 trillion in subsidies in 2020 — or roughly $11 million every minute —
EV subsidies are a pittance by comparison.
Why subsidize EVs with a tax credit?
At 5% EVs, we haven't even reached the tipping point. Research reveals for every $1000 offered as a rebate or tax credit, it increases average sales of electric vehicles by 2.6%.
The purpose is to ACCELERATE the demand, REWARD the environmentally conscious, and ENCOURAGE the manufacturers to produce lower-cost EVs for the blue-collar worker like Hyundai is doing. GM and Toyota are still asleep at the wheel.
To accelerate the world's transition to sustainable energy.
The REAL WASTE of taxpayer money IS the $5.9 Trillion In subsidies for Fossil Fuels,
According to a new analysis from the International Monetary Fund, coal, oil, and natural gas received $5.9 trillion in subsidies in 2020 — or roughly $11 million every minute —
EV subsidies are a pittance by comparison.
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