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New Tax Credit For Semi

Haven’t seen this mentioned but it looks like Tesla will get a 10% tax credit on each Semi sold. Found this in the excitement of the extension of the $7000 personal tax credit for Tesla vehicles in the new GREEN Act.

In addition to building on existing credits, the bill creates a new credit for manufacturers for the sale of zero-emission heavy vehicles and buses, which would equal 10 percent of the sales price of such vehicle to the extent the sales price does not exceed $1 million. To qualify for this new credit, the vehicle: (i) must be for domestic use, (ii) must not weigh less than 7 tons, (iii) must not include an internal combustion engine, and (iv) must be propelled solely by an electric motor which draws electricity from a battery or fuel cell.
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Reactions: scottf200
You don’t think corporations pay federal taxes on all the money they make? “The bill creates a new credit for manufacturers”. Not the bill creates a new tax credit for purchasers. Companies need to be incentivized to create these semis which will have high cost of development and not as much return as cars. They are a lot harder to sell at price point. If Tesla can offset 10% of the sales price which will be more than 10% of cost that is a great incentive for them. Most of their income is coming from cars so they have a lot of tax liability from that so being able to offset by selling semis is something that would steer them to sell more semis.