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Clark_Kent
Member
SFNM Jack
Fueled by the Sun…
Starway2001
MYP | Red/White | OD 8/20 | VIN #318 11/24
I heard someone say 2022 VINs would appear 2nd half of November. I've seen no evidence this is true.
Falcon73
Member
I am thinking 2022 more for taxes, assuming anything ever gets passed.
My EDD is 2nd half of December anyway, so I will probably hold it until early January, once I figure out how.
My EDD is 2nd half of December anyway, so I will probably hold it until early January, once I figure out how.
SFNM Jack
Fueled by the Sun…
The last time I read the EV subsidy part of the budget bill (yes, I’m an insomniac) it looked like it was going to be retro to 2021 for $7.5k and then $10k in 2022 and beyond with no limit on number of cars the manufacturer has sold. There was a limit on the cost of the vehicle that basically took out any Tesla but a Model 3 but I’ve heard from my Senator that might have changed because they realized that there were exactly 4 cars that came in under the $55k all said and done. It also read that if you got one built in a union shop you’d get $12k. I’m cool by that. Union jobs put me through college, thanks Dad! Now, That was a few weeks ago and no telling what the stinking pile of self serving garbage that WV has in the senate has done to that part of the bill so there is that. Forgive my politic there but the world is burning down and we can’t seem to get ‘er done.
SFNM Jack
Fueled by the Sun…
Just read thison Eletrek;
The reform to the federal electric vehicle incentive program, which includes an increased $12,500 EV incentive, has survived President Biden’s updated ‘Build Back Better’ proposal.
Ever since President Joe Biden took over the White House and the Democrats achieved a majority in both the House and the Senate, they have made it clear that they plan to reform the federal EV incentive program.
The current program has some important flaws. The main one is that it caps the $7,500 tax credit to 200,000 electric vehicles per manufacturer.
It puts automakers who were early proponents of electric vehicles, like Tesla and GM, at a disadvantage.
The second biggest problem is that the incentive takes the form of a $7,500 tax credit, which requires you to have the equivalent federal tax burden, and it is only applied on your next taxes.
Over the last year, there have been several proposals to reform the EV incentive.
The latest one has been folded into Biden’s giant ‘Build Back Better Act’, which has been contested in the US legislature for months now.
Today, the White House has released an updated version of the proposal that “President Biden is confident can pass both houses of Congress.”
In the framework, the White House confirmed that the updated $12,500 EV incentive survived:
The framework doesn’t include the details of the program.
We listed all the main changes to the program when it was first announced earlier this year:
The reform to the federal electric vehicle incentive program, which includes an increased $12,500 EV incentive, has survived President Biden’s updated ‘Build Back Better’ proposal.
Ever since President Joe Biden took over the White House and the Democrats achieved a majority in both the House and the Senate, they have made it clear that they plan to reform the federal EV incentive program.
The current program has some important flaws. The main one is that it caps the $7,500 tax credit to 200,000 electric vehicles per manufacturer.
It puts automakers who were early proponents of electric vehicles, like Tesla and GM, at a disadvantage.
The second biggest problem is that the incentive takes the form of a $7,500 tax credit, which requires you to have the equivalent federal tax burden, and it is only applied on your next taxes.
Over the last year, there have been several proposals to reform the EV incentive.
The latest one has been folded into Biden’s giant ‘Build Back Better Act’, which has been contested in the US legislature for months now.
Today, the White House has released an updated version of the proposal that “President Biden is confident can pass both houses of Congress.”
In the framework, the White House confirmed that the updated $12,500 EV incentive survived:
The framework doesn’t include the details of the program.
We listed all the main changes to the program when it was first announced earlier this year:
- Remove the 200,000 vehicles per manufacturer cap
- Keep the $7,500 incentive for new electric cars for 5 years
- Make the $7,500 incentive a point-of-sale discount instead of tax credit
- EVs with battery pack smaller than 40 kWh are limited to a $4,000 incentive
- Add an additional $4,500 for EV assembled at union factories
- Add another $500 for EVs using battery packs with 50% of components (including cells) are made in the US
- After the first 5 years, the $7,500 becomes only for US-made electric vehicles and it applies for another 5 years.
- They introduce price limits on the EVs eligible for the incentives:
- Sedans under $55,000
- SUVs under $69,000
- Pickup trucks under $74,000
- Vans under $54,000
- They are also introducing caps on income to get access to the incentives, but they are fairly high at an adjusted gross income of up to $400,000 for individuals and up to $800,000 for joint filers.
Starway2001
MYP | Red/White | OD 8/20 | VIN #318 11/24
Tesla took it away and never gave it back. Still waiting. And no they never explained why, just shrugged shoulders.
