Latest EV Tax Credit Status

[T4M3]

Not holding my breath with everything that is going on right now in the World but apparently this is right now the latest status in case you purchased in 2022:

The Tesla EV Tax Credit

The Clean Energy Act for America would have a positive impact on Tesla by making most Tesla cars eligible for an $8,000 (House version) or $10,000 (Senate version) refundable tax credit and handicapping Chinese EVs from entering the US market. However, Tesla does not employ unionized labor, so...

www.voltequity.com

 

[nate704]

Biden elevates Ford, GM, and now Siemens — but not Tesla — in big EV push

Siemens has positioned itself alongside companies like Ford and GM to be one of Joe Biden’s preferred corporate faces for its ambitious EV goals. Still largely on the outside — of the DC party at least — is Tesla.

finance.yahoo.com

 

[glide]

Not holding my breath with everything that is going on right now in the World but apparently this is right now the latest status in case you purchased in 2022:

The Tesla EV Tax Credit

The Clean Energy Act for America would have a positive impact on Tesla by making most Tesla cars eligible for an $8,000 (House version) or $10,000 (Senate version) refundable tax credit and handicapping Chinese EVs from entering the US market. However, Tesla does not employ unionized labor, so...

www.voltequity.com

How many threads do we need about this? It isn’t happening.

 

[Maxw72]

What can we as Tesla owners do to push our local leaders to include Tesla? Any thoughts would be appreciated.

 

[rhumbliner]

How about a “Million Tesla” rally in DC?

 

[nate704]

How about a “Million Tesla” rally in DC?

and plug in all those million Teslas into every possible power outlets and chargers and start pulling current = massive black out in DC!!

 

[Johnny Vector]

and plug in all those million Teslas into every possible power outlets and chargers and start pulling current = massive black out in DC!!

Nah, do the opposite. Have them all plugged in, and then right at the peak power consumption on a 100 degree summer day, stop charging and save the grid from collapse!

 

[mservoss]

Biden elevates Ford, GM, and now Siemens — but not Tesla — in big EV push

Siemens has positioned itself alongside companies like Ford and GM to be one of Joe Biden’s preferred corporate faces for its ambitious EV goals. Still largely on the outside — of the DC party at least — is Tesla.

finance.yahoo.com

The reason Biden doesn't mention Tesla very much, is because Elon is not dependable on the US government to make his EV company successful!!!! He has built his own EV using his money! Our government wants the EV boom to include government funds, because everybody has to make money, right?
Elon, has built his own Tesla Supercharging Network across the US......Once again, using his own money. Buying a Tesla, means Supporting Tesla. Personally, Elon is doing it the right way. I don't feel we Tesla owner's really care if he mentions us, the lineup of cars he has made are better than anything the "Big 3" will ever make.

 

[roblab]

How about a “Million Tesla” rally in DC?

Not just in DC, but at state capitols and population centers across the country like LA and Miami, Chicago and Houston. All on the same day, with news coverage so the message gets out that GM, Ford, and any others that have been around for ages have been sitting on their hands doing nothing or at best, a very minimum. It needs to be pointed out that these legacy companies have vested interests in oil and probably other dirty fuels, while electric vehicles can be run on solar, hydro, geothermal, wind, etc., all CLEAN energy. There needs to be a "clean air" tax imposed on gasoline and diesel AND on any vehicles that use them. There need to be drag races between Teslas and Mercedes, Toyotas, Nissans, Fords, Chevys, to show that electrics are no slouches. People need to be shown, and automakers need to be shamed.

 

[Johnny Vector]

Not just in DC, but at state capitols and population centers across the country like LA and Miami, Chicago and Houston. All on the same day, with news coverage so the message gets out that GM, Ford, and any others that have been around for ages have been sitting on their hands doing nothing or at best, a very minimum. It needs to be pointed out that these legacy companies have vested interests in oil and probably other dirty fuels, while electric vehicles can be run on solar, hydro, geothermal, wind, etc., all CLEAN energy. There needs to be a "clean air" tax imposed on gasoline and diesel AND on any vehicles that use them. There need to be drag races between Teslas and Mercedes, Toyotas, Nissans, Fords, Chevys, to show that electrics are no slouches. People need to be shown, and automakers need to be shamed.

And anyone who wants one gets a test drive, or at least a ride.

Maybe have a setup where someone starts charging, answers a few questions, and then notes that it's charged enough to keep driving if you're on a road trip.

A big ol' map showing all the supercharger locations.

And for the 12 year olds, a Tesla just sitting there making fart noises.

 

[T4M3]

How many threads do we need about this? It isn’t happening.

It ain't over until ...

 

[Fairchild]

The reason Biden doesn't mention Tesla very much, is because Elon is not dependable on the US government to make his EV company successful!!!! He has built his own EV using his money! Our government wants the EV boom to include government funds, because everybody has to make money, right?
Elon, has built his own Tesla Supercharging Network across the US......Once again, using his own money. Buying a Tesla, means Supporting Tesla. Personally, Elon is doing it the right way. I don't feel we Tesla owner's really care if he mentions us, the lineup of cars he has made are better than anything the "Big 3" will ever make.

Actually, it has nothing to do with that. Biden is a Union man who is unhappy that Tesla factories are not Unionized to protect the workers.
Fremont workers voted not to have a union. I say, Let the workers decide. If they are happy without a union, so be it. Recently though, some of them have not been so happy.

 

[Fairchild]

It ain't over until...

Agree. There are always naysayers in the crowd. Perhaps they should be exempted from the tax credit in the new bill.

It looks like the tax credit at least has another breath. Let's hear it from someone who knows what they are talking about.

Write your senators to support it. Especially Coal Miner Manchin.

 

[Fairchild]

COAL miner's friend, Senator Manchin KILLS EV tax credits.

From his lobby money, he was however, able to muster cash for his Maserati and his WV yacht called Almost Heaven.

Solely, Manchin was also a able to wipe out the administrations budget to fight climate change, while at the same time promoting the use of polluting coal. Wow.

He should get the award for: Accelerating the world's transition to Manchin power and energy.

How One Senator Doomed the Democrats’ Climate Plan

Senator Joe Manchin III of West Virginia led his party and his president through months of tortured talks, with nothing to show for it as the planet dangerously heats up.

www.nytimes.com

I've got a fishing yacht to bequeath to Joe Manchin.

It's name is: A Special Place in Hell

 

[T4M3]

So this is now the latest status. Wondering how many potential buyers will now wait for 2023 to take delivery of their Tesla's:

New EV Tax Credits for Tesla in the Inflation Reduction Act

The new system of EV tax credits emphasizes manufacturing requirements rather than battery size. The current EV tax credit begins at $2,500 for a 4 kWh hybrid vehicle and scales up to a max of $7,500. The new proposed EV tax credit discards battery size requirements and instead favors North...

www.voltequity.com

 

[Fairchild]

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.

• 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

This would enable Tesla and GM to get access back to the credit – though in Tesla’s case, it would only apply to some versions of the Model 3 due to the new $55,000 price limit and of course Model Ys and CYBRTRKs below $80,000.

Probably retroactive for 2022.
Keep watching the Sinema

 

[jsmay311]

Well this is anticlimactic. All this time I was hoping for the EV tax credit to come back from the dead, but I had completely overlooked the fact that all the price increases over the past 9 months had pushed the starting price for the Model 3 LR above the $55k price cap for cars that was in the original Build Back Better bill, and which is carrying over to the latest reconciliation bill.

 

[T4M3]

Probably retroactive for 2022.

Nope, the 200,000 cap on Tesla/GM will be removed for cars purchased after December 31, 2022.

Please read pages 385, 386, 387 below:

https://www.democrats.senate.gov/imo/media/doc/inflation_reduction_act_of_2022.pdf

 

[morepower]

Nope, the 200,000 cap on Tesla/GM will be removed for cars purchased after December 31, 2022.

Please read pages 385, 386, 387 below:

https://www.democrats.senate.gov/imo/media/doc/inflation_reduction_act_of_2022.pdf

I wonder how many buyers will delay taking delivery until next year if they have a model 3 or Y on order now and are scheduled to take delivery before end of year.

I found an article that summarizes the legislation impact for Tesla here. There's nothing better to put yourself to sleep then by reading actual legislation if you want to go that route.

 

[T4M3]

I wonder how many buyers will delay taking delivery until next year if they have a model 3 or Y on order now and are scheduled to take delivery before end of year.

New orders on Model Y are pushed out to 2023 anyways but I suspect with this potential EV credit, orders will increase today and the coming days significantly. For Model 3 Standard Range orders, for those who can wait and whose income does qualify, it is a no-brainer to take delivery in 2023.