New BBB Act language is up (and there seems to be an agreement on this language). (
https://rules.house.gov/sites/democrats.rules.house.gov/files/BILLS-117HR5376RH-RCP117-17.pdf)
I read it very quickly, but seems pretty similar to before.
- Income limitations at $800k joint/$400k individual.
- Capped at MSRPS of: $55k (Car); $64k (Van); $69k (SUV); $74k (Truck)
- Effective in 2022
- Base Credit of $4000
- Additional $3500 for batteries >40kWh (and a tiny gas tank)
- Additional $4500 for domestic unionized assembly
- Additional $500 for domestic batteries
- Expires 2031
- Can be point-of-sale after 2022
Final result for Tesla: $7500-$8000 credit depending on how battery manufacture is determined for Models 3/Y/Cybertruck.
My take: A net positive for Tesla. No reason to get up in arms about union assembly -- it will be years before domestic unionized manufacturers can produce same quantities as Tesla and for now and a long while, Tesla's cost advantages are likely greater than $4500k. Plus, for now, Tesla treated the same as closest global competitors like VW.
There is also still a used EV credit of $2000 for middle income taxpayers (up to $150k joint) purchasing cars for less than $25k.