Tesla EV Tax Credits coming back?

[Spidey616]

Until we hear otherwise the White House release sounds like they picked up the legislation from the House Ways and Means. Look at the right column for what that covers. Via Latest on Tesla EV Tax Credit (October 2021) - Current and Upcoming in 2022

 

[plibby1985]

Until we hear otherwise the White House release sounds like they picked up the legislation from the House Ways and Means. Look at the right column for what that covers. Via Latest on Tesla EV Tax Credit (October 2021) - Current and Upcoming in 2022
View attachment 726658

"not specified if retroactive..." killing me lol

 

[SkeetShooter]

So are they moving away from Point of Sale now? Or is that still on the table?

 

[patmurphey]

...than giving Tesla owners 7500 back for a car they'll buy anyhow...

You ignore those who would not buy the Tesla without the incentive because of their cost.

 

[alset3000]

So are they moving away from Point of Sale now? Or is that still on the table?

The Tax Credit in proposed BBB legislation is transferrable to the "dealer" effectively making it point of sale. How this will actually work or If this requires buy-in from the "dealer" is unknown.

"not specified" if retroactive is misleading. The BBB legislation being discussed starts Jan 1, 2022, and is not retroactive.

 

[plibby1985]

The Tax Credit in proposed BBB legislation is transferrable to the "dealer" effectively making it point of sale. How this will actually work or If this requires buy-in from the "dealer" is unknown.

"not specified" if retroactive is misleading. The BBB legislation being discussed starts Jan 1, 2022, and is not retroactive.

maybe it will be point of sale based starting jan 1 2022 and a tax credit for deliveries may 24th 2021 -

 

[Spidey616]

Lots of excitement and justifiably so. But we are making a lot of assumptions and guesses right now. Probably won’t know anything definitive until this legislation passes or Until House and Senate post the legislation.

 

[Spidey616]

maybe it will be point of sale based starting jan 1 2022 and a tax credit for deliveries may 24th 2021 -

Technically it is. But that existing tax credit has been phased out for Tesla. The senate proposed retroactively updating the cap for Tesla. The way the White House info reads is that it follows the house path with no retroactive bonus.

To be fair I’d be fine with that 7500 now. It would mean I don’t have to delay delivery.

 

[k.alexander]

Lots of excitement and justifiably so. But we are making a lot of assumptions and guesses right now. Probably won’t know anything definitive until this legislation passes or Until House and Senate post the legislation.

Agreed, we won't know much more until it is at least written to be voted on.

 

[goitsme48]

$12,500 EV Tax Credit included in revised Biden Build Back Better plan

The $12,500 Electric Vehicle Tax Credit has been included in the most recently revised version of President Biden’s Build Back Better plan, which aims to put America on course to meet climate goals, offer and create millions of good-paying jobs for American workers, and enable more citizens to...

www.teslarati.com

 

[Viv1984]

Technically it is. But that existing tax credit has been phased out for Tesla. The senate proposed retroactively updating the cap for Tesla. The way the White House info reads is that it follows the house path with no retroactive bonus.

To be fair I’d be fine with that 7500 now. It would mean I don’t have to delay delivery.

Ideally, they just lift the cap for this year (so Tesla qualifies under current incentive) and then everything changes to the new format on 1/1.

 

[PaulNY]

I’m supposed to get my MY in just over a week. I think I’m going to anyway. I can’t be waiting many more months, and some of the language here about middle class families makes me think they’ll lower the income limit significantly anyway.

 

[plibby1985]

so if its

Ideally, they just lift the cap for this year (so Tesla qualifies under current incentive) and then everything changes to the new format on 1/1.

yes, if that's the case i would gladly take my delivery in the next 2-4 weeks.

 

[Viv1984]

so if its

yes, if that's the case i would gladly take my delivery in the next 2-4 weeks.

Same here, I ordered my MYP in August and should get it by the end of November, if the bill passes for January only, I'm thinking I'll wait. I'm going to be gone half of December anyways.

 

[Ogre]

Until we hear otherwise the White House release sounds like they picked up the legislation from the House Ways and Means. Look at the right column for what that covers. Via Latest on Tesla EV Tax Credit (October 2021) - Current and Upcoming in 2022
View attachment 726658

No idea if this is accurate or not, but looking at this particular “House” version, there would be no vehicles qualified for the $12500 incentive. Its entirely possible no cars will ever be built which get the full $12,500 incentive.

So long as it requires a 40kWh battery and doesn’t require union participation to get the base $7500 amount I’ll consider it a win.

 

[voxel]

Same here, I ordered my MYP in August and should get it by the end of November, if the bill passes for January only, I'm thinking I'll wait. I'm going to be gone half of December anyways.

You can't exactly time Tesla deliveries though... you put your order on hold then suddenly the tax credit is restored there are going to be thousands of unholds and you might get your car 3-6 months later than expected (June instead of Jan).

As long as you don't need the car... you should be fine.

 

[alset3000]

No idea if this is accurate or not, but looking at this particular “House” version, there would be no vehicles qualified for the $12500 incentive. Its entirely possible no cars will ever be built which get the full $12,500 incentive.

So long as it requires a 40kWh battery and doesn’t require union participation to get the base $7500 amount I’ll consider it a win.

Every Ford Lightning and GM product would qualify for the $12,500 (Hint, that's the whole point of this bill)

 

[plibby1985]

You can't exactly time Tesla deliveries though... you put your order on hold then suddenly the tax credit is restored there are going to be thousands of unholds and you might get your car 3-6 months later than expected (June instead of Jan).

As long as you don't need the car... you should be fine.

not as long for MYP

 

[Ogre]

Every Ford Lightning and GM product would qualify for the $12,500 (Hint, that's the whole point of this bill)

Not unless GM or Ford have secretly made a battery plant in their basements.

 

[alset3000]

Not unless GM or Ford have secretly made a battery plant in their basements.

GM already builds the bolt packs at Orion, cells come from Korea. Ford and GM (or JV w/ bat OEM) are building battery factories in US. That final $500 incentive will be realized by both at some point.