jgd108
Member
Thanks for the link. Had read on Electrek somebody say May 24 2021. If it's next year then gotta buy now!
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Tax credit (Green ACT)
- Thread starter sam2020
- Start date
OCJeff
Active Member
Exactly... Looks like I'll be renting a vehicle from October to January if this "bill" becomes law. Can't pass up that kind of money.
jgd108
Member
Right, but at 1k increases per month for 8 months there's a great chance the net price will be the same... Tesla has always followed closely (meaning adjusted pricing) the federal rebate so far.
Another interesting note on page 30, "The elimination of the per-manufacturer-cap is effective for vehicles sold after May 24, 2021. The portions of the proposal making the EV credit a refundable personal income tax credit along with the VIN requirement are effective for vehicles acquired after December 31, 2021. The EV credit phase-out rule is effective on the date of enactment."
From this portion of the changes to the bill it seems as if the $7,500 non-refundable tax credit will go into effect once signed into law for Teslas sold after May 24, 2021! What changes on Jan 1, 2022 is the increase to $10,000 ($12,500 for union made vehicles) and it will be a refundable tax credit.
Therefore, @OCJeff I agree that is a lot of money left on the table, but if you owe more than $7,500 in federal taxes in 2021, then taking delivery this year may still get you the original EV tax credit. This is huge news! Of course, it still needs to be passed.
OCJeff
Active Member
That is why you need to have an order in today. Or in my case March 2021 when the base MY AWD was $48990. $3,000 savings already in my pocket.
I'm hoping to be picking up my White/white MYSR order in the next month or so. Recently took it off hold. If it all works out with the timing of the infrastructural bill, after federal and state tax rebates, it'll be $31k. Fingers crossed!Looks like it could be a win on all front - get the car 6months early + 7.5k federal credit + cheaper car
jgd108
Member
This is my understanding as well. It looks like the 7500 fed tax credit is back on again for Tesla as of last Monday if this bill passes! Now we have to ask if it’s the order date or sale date that counts.
OCJeff
Active Member
Sale date.... essentially the date the vehicle is first registered. Order date means nothing to the DMV or the Federal Government.
jgd108
Member
OK! I saw a few SR in inventory in April not sure if you'll get it anymore though since they haven't made them since Feb..
scubastevo80
Member
That's my aggressive read as well - the additional $2500-5k would not be in scope until 2022, but the Tesla $7500 credit could potentially be eligible for deliveries after 5/24/21.
For this bill, I do not think I saw anything on used. However, there are other bills out there with stipulations for used vehicles. In the end, IMHO, its going to be a combination of passed through the bipartisan Infrastructure Bill and/or Democratic Reconciliation.
Bottom line, just because this bill doesn't include used cars, doesn't mean by the time this all comes into law that used cars aren't included to some degree.
My SA said it would be fine! Haven't had any weirdness on the website either. I have a delivery estimate of 2-6 weeks.
jgd108
Member
If that's the case and they're still building it you might be the first SR with Tesla Vision
Maybe we will get some new news on Wednesday this week:
Clock is ticking for Republicans on infrastructure, Biden officials say
"Democrats will start the process on Wednesday of preparing an infrastructure bill for a vote in the U.S. House of Representatives, with or without Republican support"
Clock is ticking for Republicans on infrastructure, Biden officials say
"Democrats will start the process on Wednesday of preparing an infrastructure bill for a vote in the U.S. House of Representatives, with or without Republican support"
k.alexander
Member
How much of the EV stuff is still in the infrastructure bill as it is written currently?
Best I can tell, the infrastructure bill is either our best or likely even only chance at getting the tax credit.
Best I can tell, the infrastructure bill is either our best or likely even only chance at getting the tax credit.
Plasmid_Boy
Member
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