Tesla EV Tax Credits coming back?

[advocate8]

??? I’ve never seen a paywall in front of this and can access it from personal and work. So not sure.

In short, they see no chance Manchin folds on the cost and inflation. He’s gone so far to mention leaving the Democratic Party - the thinking is this bill is currently so expensive and left leaning he will surely lose the next election if he signs off. At this point he’s gone too far to agree.

He going to make a stand on these, and at minimum gut the bill in a way that will make him a hero to the other party, and then he will create some hyped drama, probably reaction to something one of the further-left of his party says about him, and make a big show of leaving the party.
Then he would be an absolutely lock for reelection from the GOP.,.. and given trend lines among voters and how close his last election bid was, highly unlikely no matter what he does with BBB to be reelected as a Demo.
The tricky part is he hasn’t really taken a shot at the core EV credits, just the union parts, and has taken shots at very specific other parts of the bill. SO even if the scenario above plays out he could leave a husk of BBB that includes the basic $7,500 or $8000 credits. Then the question becomes whether the left will be mad enough at him to sink it and come back with just small parts of the bill individually.
But it’s not happening by Jan 1., none of it, and then it becomes a question of when in 2022 your EDD shows and whether any vestige of credits is modified to be in effect only after date it is approved... So complicated!

 

[ishareit]

3 options
1. Take delivery asap (potentially this year)
2. Take delivery on or after Jan 1, 2022
3. Take delivery after bill passes which might make it > 38000 migration.
My preference is #2 since it might be retroactive to Jan 1 and who knows when its going to pass.

 

[ishareit]

3 options
1. Take delivery asap (potentially this year)
2. Take delivery on or after Jan 1, 2022
3. Take delivery after bill passes which might make it > 38000 migration.
My preference is #2 since it might be retroactive to Jan 1 and who knows when its going to pass.

#3 is a typo for some reason. I meant to say “… which is very uncertain”

 

[Sexy_owner]

This doesn’t look good…

Manchin says he 'cannot vote' for Build Back Better: 'I've done everything humanly possible'

Sen. Joe Manchin, declared Sunday that there is no way he can support the massive social spending bill known as the Build Back Better Act.

www.foxnews.com

 

[doomsday997]

Bad news for the BBB bill this morning. Never say never but Manchin said this morning he’s tried everything and with inflation, COVID etc is a firm no.

Manchin says he 'cannot vote' for Build Back Better: 'I've done everything humanly possible'

 

[doomsday997]

This doesn’t look good…

Manchin says he 'cannot vote' for Build Back Better: 'I've done everything humanly possible'

Sen. Joe Manchin, declared Sunday that there is no way he can support the massive social spending bill known as the Build Back Better Act.

www.foxnews.com

Yep I think this is the death knell for BBB. He even officially informed the president and senate leadership he said.

 

[Firocity]

I wonder how many reservation holders cancel their orders. I could see the wait time go down for new builds.

 

[goin2drt]

I wonder how many reservation holders cancel their orders. I could see the wait time go down for new builds.

Sure hope so. We are 1/21-2/18. We would love to pick it up early since we already sold the old car.

 

[CaseyL]

This thread about new Tesla tax credits started in February and is now 118 pages long. People have been delaying deliveries for months and many orders have been canceled. And a new tax credit is ... still just a distant possibility. Meanwhile, we are enjoying the heck out of our Model Y!

 

[gtbguy]

I'm having a hard time wrapping around the idea of a tax credit when we're spending well over $60K for a car. If Tesla buyers can afford the car they don't need a tax credit. Inflation is already bad enough and we sure as hell don't need more.

 

[doomsday997]

I wonder how many reservation holders cancel their orders. I could see the wait time go down for new builds.

There will be some I’m sure but I doubt it will be a massive amount.

 

[evnautilus]

I'm having a hard time wrapping around the idea of a tax credit when we're spending well over $60K for a car. If Tesla buyers can afford the car they don't need a tax credit. Inflation is already bad enough and we sure as hell don't need more.

I don’t think it follows that if you can afford $60K then you can necessarily afford $50K.

Any time you reduce the price you increase the number of people that can afford it.

 

[ohmman]

I'm having a hard time wrapping around the idea of a tax credit when we're spending well over $60K for a car. If Tesla buyers can afford the car they don't need a tax credit. Inflation is already bad enough and we sure as hell don't need more.

Economic incentives work even if the parties don’t “need” them. 5c grocery bags made people significantly more likely to bring them. The idea is to incentivize more EVs.

Now, that said, there is an impetus to ensure that the money spent on incentives results in maximum results. Your argument could reasonably be that these incentives will be more effective with alternate vehicles that have a lower MSRP, assuming there are limited funds for incentive purposes.

 

[Unclepaul]

Because of Covid, my grocery store will not let me bring used bags.

 

[Unclepaul]

Long term government incentives will not only encourage more buyers to select EVs, it will also provide an incentive to build factories in the US and employ US workers. The Union bonus is simply pandering to Unions that send most all their political contributions to Democrats.

 

[Morwynn]

Not sure if this is posted anywhere, but saw it mentioned in a Ryan Shaw video, so thought I'd share: State & Federal Incentives -

 

[Brolan]

Moderator note: This post and some replies to it were merged in from a thread originally posted in a Model Y sub-forum.

Manchin kills EV tax credit bill.

Manchin says he won't vote for Build Back Better Act

Democratic Sen. Joe Manchin of West Virginia said he's a no on the Build Back Better Act, effectively ending negotiations on this version of legislation that would expand the nation's social safety net.

www.cnn.com

I know a lot of you were counting on that tax credit. Vent your anger below.

 

[45thParallel]

Happy that it is gone. Never relied on it when booking. At least the Sht show has stopped and people will stop putting orders on hold leading to chaos in EDD will end. Tesla will benefit more than Ford and GM and other legacy manufacturers.

 

[kabin]

It's a bummer for EV tax credits but in the big picture thank goodness someone could be an adult and take away the overdrawn credit card. Down the road hopefully they can pass smaller bills that have consensus.

 

[John in LB]

My opinion is that a smaller package will be passed in January / February. I think the smaller package will include climate change related issues, including some kind of EV tax credit. It will still be effective 1/1/22.

A bigger unknown is that the current House version of BBB does income tests on the prior year as well as the current year (in the case of taking delivery in 2022, they would evaluate you on 2021 and 2022 income) - if EITHER one is over the designated limits, it will reduce the credit you receive. Will they keep the 2 year income test? What will be the phase out limits? These are unknows...