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Tax credit (Green ACT)

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#141
patmurphey said:
I guess I'll have to got out and buy a wreck so I can trade it in for my upcoming Model Y. :)
Click to expand...
That won't work if they follow the wording from the first CFC law.

The other sneaky part of the plan is the Greening the Fleet that is written in such a way to exclude Tesla from qualifying. In the fine print, only cars made with a minimum of 50% components manufactured in the United States by Union workers are qualified. I'm waiting for the government to use race as the next qualifier. Oh wait, they already did even though that violates the 14th Equal Protection clause. Since when did the government ever follow their own rules?
 
#142
This is from a Wall Street utility analyst friend- an independent take on the White House agenda. Personally, I thought the "First 100 Days" (4/30) would be Biden's target to introduce a splashy Green New Bill. If there's no tax credit on the horizon by then, I'm just gonna pull the trigger and buy the Y

On April 22, President Biden will host world leaders virtually at the White House for an Earth Day Summit focused on Clean Energy goals and this week (March 29) Mr. Biden is expected to unveil a $3-4 trillion infrastructure bill plan that includes many of his clean energy agenda items

Electric Vehicles: Cash for Clunkers? Remove the Cap?

It is unclear how President Biden will incentivize Electric Vehicle growth but trade pubs have speculated a renewal of President Obama’s “cash for clunkers” program or removing the 200,000 per manufacturer cap on the $7500/vehicle federal tax credit. The cash-for-clunkers program allocated $3 bn for a $4500/vehicle credit for consumers who traded in their cars with less than 18 mpg fuel efficiency. While either of these mechanisms would incentivize EV growth, we question if another way he might consider doing it would be penalizing existing internal combustion engines via an increase in the federal gasoline tax. Mr. Biden campaigned on rolling out 550,000 EV charging stations and in January proposed converting the entire federal fleet, including the Postal Service, to EVs. The federal fleet is made up of 650,000 vehicles split roughly 1/3 passenger, 2/3 trucks.
 
#143
I heard today that a gas tax increase was out of the question when it came up as a possibility (based on news reports). It would tax the "middle class" most and he ran on not increasing taxes on the middle class. Also heard the "mileage tax" was out for the same reason.

So I am curious what will be revealed tomorrow, but regardless I’m doubtful it would apply to 2021 (but I am very hopeful). 2022 is too late for me, I’m needing a september delivery at the latest.
 
#145
Today the administration is expected to roll out a portion of the infrastructure recommendations; the balance of it will be made public sometime around April 15th to the 20th.

Look for a $10,000 tax credit on EV's made by American union workers at 50% of the car's build. This was hinted late yesterday. I have no other details but it seems to me to be a way to exclude Tesla as pay back for the 2020 election.

Regardless of what's in the plan, just remember this is a starting point and we probably won't know how any of this affects Tesla cost to us until the Fall. When the Congress estimates September for the final passed bill we can assume they mean December.


Buying a new Tesla is always about timing. Ordering now seems to be a good time for most of the refresh Model Y's however there are hints now that the chip shortage is costing Model Y and 3 production numbers. Unless this changes, the wait time will get longer. Currently there are quite a few inventory Model Y's but they are either rejects or odd package configurations. If you aren't particular on configuration, picking up an inventory car or Demo may be a way to avoid the wait time.

I ordered a Y last week and now I wait for the Vin #. My configuration only had two in stock on the west coast and those were sold the next day. I also felt that as the shortage continues, Tesla may increase the price of the Y as they already did on the 3.
 
#146
TravelFree said:
Today the administration is expected to roll out a portion of the infrastructure recommendations; the balance of it will be made public sometime around April 15th to the 20th.

Look for a $10,000 tax credit on EV's made by American union workers at 50% of the car's build. This was hinted late yesterday. I have no other details but it seems to me to be a way to exclude Tesla as pay back for the 2020 election.

Regardless of what's in the plan, just remember this is a starting point and we probably won't know how any of this affects Tesla cost to us until the Fall. When the Congress estimates September for the final passed bill we can assume they mean December.


Buying a new Tesla is always about timing. Ordering now seems to be a good time for most of the refresh Model Y's however there are hints now that the chip shortage is costing Model Y and 3 production numbers. Unless this changes, the wait time will get longer. Currently there are quite a few inventory Model Y's but they are either rejects or odd package configurations. If you aren't particular on configuration, picking up an inventory car or Demo may be a way to avoid the wait time.

I ordered a Y last week and now I wait for the Vin #. My configuration only had two in stock on the west coast and those were sold the next day. I also felt that as the shortage continues, Tesla may increase the price of the Y as they already did on the 3.
Click to expand...


This doesn't make sense. I'll wait to see the details.
 
#148
I have a couple questions.
  1. I purchased a new 2018 Outlander GT PHEV a few years ago and received the max Federal EV credit ($5,836) for that vehicle at the time. Under the bill as written today, if it does expand for Teslas, will someone be able to receive another Federal EV credit? Or will my wife have to purchase the Tesla?
  2. I intend to purchase a MY and trade-in my PHEV this year once I need to start driving again into the office (estimated July 2021) and before my car's inspection in due (end of August 2021). So I was thinking put in an order some time in late May to June to receive the MY before end of August. However, if the Green Act passes before then, the MY may go up in price. Does it make sense to just put in the MY order now, but delay delivery and trade-in to reserve the current MY price? Or does it not work that way?
 
#149
This just in as a summary of the big plan that pertains to Tesla and GM:

Wedbush analyst Daniel Ives:
"First, an expansion of the tax credits currently valued at $7,500 for EV vehicles to the $10,000 range or potentially higher in a tiered system. Other point-of-sale rebates could also be put into this wide ranging infrastructure bill to catalyze consumers to head down the EV path," Ives said. "Second, we expect to see a lifting of the 200,000-per-manufacturer ceiling on the credits being phased out which will restore the EV tax credits for stalwarts Tesla and GM."

I'm going through the actual text today:
 
#150
My eyes are bleeding but I read through all of it. It basically reads like a wish list rather than legislation as you will see by my pull quote of what is actually stated in reference to EV's and Tax credits / rebates. Note that prior opinions by media and analysts differ as to the actual text:

  • Create good jobs electrifying vehicles. U.S. market share of plug-in electric vehicle (EV) sales is only one-third the size of the Chinese EV market. The President believes that must change. He is proposing a $174 billion investment to win the EV market. His plan will enable automakers to spur domestic supply chains from raw materials to parts, retool factories to compete globally, and support American workers to make batteries and EVs. It will give consumers point of sale rebates and tax incentives to buy American-made EVs, while ensuring that these vehicles are affordable for all families and manufactured by workers with good jobs. It will establish grant and incentive programs for state and local governments and the private sector to build a national network of 500,000 EV chargers by 2030, while promoting strong labor, training, and installation standards. His plan also will replace 50,000 diesel transit vehicles and electrify at least 20 percent of our yellow school bus fleet through a new Clean Buses for Kids Program at the Environmental Protection Agency, with support from the Department of Energy. These investments will set us on a path to 100 percent clean buses, while ensuring that the American workforce is trained to operate and maintain this 21st century infrastructure. Finally, it will utilize the vast tools of federal procurement to electrify the federal fleet, including the United States Postal Service.

If you want to read the entire published statement:

www.whitehouse.gov

FACT SHEET: The American Jobs Plan | The White House

While the American Rescue Plan is changing the course of the pandemic and delivering relief for working families, this is no time to build back to the way things were. This is the moment to reimagine and rebuild a new economy. The American Jobs Plan is an investment in America that will create...
www.whitehouse.gov www.whitehouse.gov
 
#153
Plasmid_Boy said:
That's how I read it too, from this statement; “It will give consumers point of sale rebates and tax incentives to buy American-made EVs”
Click to expand...
Yes, but too bad there wasn't a specific reference to those bills. If you did brows through the entire text, there was no reference to any current bills in committee. It stated throughout that this was "Biden's Plan"

Time line is said to be later in April for the remainder of the plan that covers lots of social reform and money for non-infrastructure or related spending. I've heard some pretty wild ideas on that like funding to expand abortion clinics. After May 1 is when they will begin to construct the actual bill and then in June or July begin committee debates on content.

Glad I didn't hold my breath for the GREEN Tax Credit or the CARS Act of 2021. I think these might die in committee. But we'll keep our finger's crossed.


The good news is that in 3 days I more than made up for that Tax credit with my stock trades. When the government is all hat and no cattle, I lassoed one steer and we're eating steak tonight! :) Now send me that VIN# Tesla!
 
#156
I'm in the same boat. I'm looking for a Q3 delivery, and would like for the Tax credit to be confirmed for my sale, but if they lock in and confirm a start date of 1/1/2022 for the credit then I will absolutely hold off delivery, and possibly rent a car for a few months if needed.

I would gladly spend $1500 on a rental to get a $7500+ credit. No brainer.
 
#157
How will this work for people who placed an order but haven’t received their MY yet?

My first question is I am supposed to receive my vehicle in the middle of May so if I take delivery and a tax credit comes out a few months later am I still eligible?

My second question is if I’m not eligible and I refuse delivery until I know 100% that the tax credit is going on l, will I still receive it although I placed my order last month for a future delivery? My agent told me I could refuse delivery up to a year so does the tax credit apply in certain scenarios?
 
#158
1plavs said:
How will this work for people who placed an order but haven’t received their MY yet?

My first question is I am supposed to receive my vehicle in the middle of May so if I take delivery and a tax credit comes out a few months later am I still eligible?

My second question is if I’m not eligible and I refuse delivery until I know 100% that the tax credit is going on l, will I still receive it although I placed my order last month for a future delivery? My agent told me I could refuse delivery up to a year so does the tax credit apply in certain scenarios?
Click to expand...
I don't think any of us knows. It's all up in the air at this point. Supposedly more details coming out mid April or late April. For all we know, there could also be an income justification like some of the existing EV rebates in CA you have to really qualify under income and send them your IRS tax return to prove it. Even if they decided to not allow the previous order to go through because it's a "Point-of-Sale" rebate and somehow I qualify for the rebate using a new order, I'll just cancel and wait again if the pricing makes sense. They could also make this retroactive so who the hell knows.
 
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#159
tempest2001 said:
I don't think any of us knows. It's all up in the air at this point. Supposedly more details coming out mid April or late April. For all we know, there could also be an income justification like some of the existing EV rebates in CA you have to really qualify under income and send them your IRS tax return to prove it. Even if they decided to not allow the previous order to go through because it's a "Point-of-Sale" rebate and somehow I qualify for the rebate using a new order, I'll just cancel and wait again if the pricing makes sense. They could also make this retroactive so who the hell knows.
Click to expand...
I keep reading that when and if the rebates or tax credits come out Tesla could also increase their prices.
 
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