[Msv5010]

It appears the new Inflation Reduction Act of 2022 will include an amended version of the EV tax credit. While the limitation on number of vehicles has been eliminated in the bill, there is both an income limitation ($300,000 married filing joint, $150,000 single) and an MSRP limitation ($80,000 for both pickups and SUVs). Imagine this won't help most folks in the market for a Hummer EV.

 

[travwill]

It appears the new Inflation Reduction Act of 2022 will include an amended version of the EV tax credit. While the limitation on number of vehicles has been eliminated in the bill, there is both an income limitation ($300,000 married filing joint, $150,000 single) and an MSRP limitation ($80,000 for both pickups and SUVs). Imagine this won't help most folks in the market for a Hummer EV.

darn. I’m not sure how tax credits that free up more funds for spending would address inflation at all, just make
It worse with more demand.

 

[Msv5010]

Not all bad news - it appears the bill would extend the federal credit equal to 30% of the cost of installing an EV charger until 2032.

 

[Msv5010]

darn. I’m not sure how tax credits that free up more funds for spending would address inflation at all, just make
It worse with more demand.

Frankly I don't see how anything in this bill would reduce inflation. It's mostly an energy bill, with $370 million in spending on energy alone. A couple of tax provisions and health care subsidies as well.

 

[travwill]

Frankly I don't see how anything in this bill would reduce inflation. It's mostly an energy bill, with $370 million in spending on energy alone. A couple of tax provisions and health care subsidies as well.

agree, if anything it’s going to require printing another $1 trillion up front and tax hikes won’t cover that. The +money, giveaways, and pressure on fossil fuels implied will just accelerate inflation.

It’s really just a Dem vote buy prior to mid-terms.

 

[azbill]

It is a vote buying bill, with midterms coming up.

Tax credits for EVs are not needed, currently there are no EVs in stock, they are going like hotcakes, especially Teslas. The issue is supply, not demand. This is not needed to accelerate adoption.

 

[Tom E-Tron]

It is a vote buying bill, with midterms coming up.

Tax credits for EVs are not needed, currently there are no EVs in stock, they are going like hotcakes, especially Teslas. The issue is supply, not demand. This is not needed to accelerate adoption.

I like leveling the playing field for GM, Ford, and Tesla, the old tax credit that mostly benefited foreign made EV's while most North American made EV's did not get a credit was wrong. They could have killed the whole rebate program for EV' and that would have been fine with me, but compared to the way it was, this is better.

 

[Dark-Fx]

It is a vote buying bill, with midterms coming up.

Tax credits for EVs are not needed, currently there are no EVs in stock, they are going like hotcakes, especially Teslas. The issue is supply, not demand. This is not needed to accelerate adoption.

Thats why they have income limits.

 

[Carac]

I don't understand there not being a scale to the credits and just a hard upper cutoff sucks. If you were to buy the mythical "$30k EV", then the credit is 13% of your MSRP. If you manage to buy a $79,999 pickup, you get 5%. If your MSRP goes up a dollar from that...no credit, 0%. Same with the income limits, sure the people at $150k single/$300k joint aren't hurting for money, but if you make $149,999.99 and buy a $79,999 pickup you get $4k in credit, make a cent more? Nada. Someone that made a cent less than you just "made" another $4k that you didn't. Anyway, it should just be a everyone gets it or no one does, no gaming your transactions to some arbitrary number.

If you make it a 5% of the purchase price of the vehicle THEN a MSRP limit makes sense, but not both a fixed credit AND a hard price cap.

 

[azbill]

I don't understand there not being a scale to the credits and just a hard upper cutoff sucks. If you were to buy the mythical "$30k EV", then the credit is 13% of your MSRP. If you manage to buy a $79,999 pickup, you get 5%. If your MSRP goes up a dollar from that...no credit, 0%. Same with the income limits, sure the people at $150k single/$300k joint aren't hurting for money, but if you make $149,999.99 and buy a $79,999 pickup you get $4k in credit, make a cent more? Nada. Someone that made a cent less than you just "made" another $4k that you didn't. Anyway, it should just be a everyone gets it or no one does, no gaming your transactions to some arbitrary number.

If you make it a 5% of the purchase price of the vehicle THEN a MSRP limit makes sense, but not both a fixed credit AND a hard price cap.

You are assuming the people running our government are logical thinkers, they absolutely are not.

 

[Dark-Fx]

I don't understand there not being a scale to the credits and just a hard upper cutoff sucks. If you were to buy the mythical "$30k EV", then the credit is 13% of your MSRP. If you manage to buy a $79,999 pickup, you get 5%. If your MSRP goes up a dollar from that...no credit, 0%. Same with the income limits, sure the people at $150k single/$300k joint aren't hurting for money, but if you make $149,999.99 and buy a $79,999 pickup you get $4k in credit, make a cent more? Nada. Someone that made a cent less than you just "made" another $4k that you didn't. Anyway, it should just be a everyone gets it or no one does, no gaming your transactions to some arbitrary number.

If you make it a 5% of the purchase price of the vehicle THEN a MSRP limit makes sense, but not both a fixed credit AND a hard price cap.

Try not to make so much money and try to buy less expensive vehicles then. Otherwise pay your damn taxes ☺

 

[Carac]

Try not to make so much money and try to buy less expensive vehicles then. Otherwise pay your damn taxes ☺

Lol, I do, A LOT. I just find it...let's say, amusing...that it incentivizes making as little money as possible and buying the cheapest EV you can get.

I'm still buying a Hummer EV, but who doesn't want a $4k tax credit for something they're going to do anyway?

 

[Tom E-Tron]

Try not to make so much money and try to buy less expensive vehicles then. Otherwise pay your damn taxes ☺

YUP... Reading deeper in the proposal, Tesla gets the middle finger, Model Y too light to be considered an SUV, and Model 3 too expensive and Chinese batteries on the short range version, Model S and X too expensive.

 

[Tom E-Tron]

Lol, I do, A LOT. I just find it...let's say, amusing...that it incentivizes making as little money as possible and buying the cheapest EV you can get.

This plan is better than the current plan, rich people do not need a price break on their EV, and people buying discretionary EV's should not get a break. Buying a Hummer EV or lucid Air is not for the betterment of society, a Bolt EV thought hat displaces an old and worn out ICE car has an impact.

This plan promotes made in North America EV's, and made in North America battery packs. I like it.... Audi, Jaguar, Porsche, Fisker, and others are crapping their pants right now with their foreign made EV's not qualifying.

 

[Dark-Fx]

This plan is better than the current plan, rich people do not need a price break on their EV, and people buying discretionary EV's should not get a break.

This plan promotes made in North America EV's, and made in North America battery packs. I like it.... Audi, Jaguar, Porsche, Fisker, and others are crapping their pants right now with their foreign made EV's not qualifying.

It's biased towards the big "three". Personally I think it should be USA made only. Especially if this bill is purported to be about inflation issues.

 

[Tom E-Tron]

It's biased towards the big "three". Personally I think it should be USA made only.

I am ok with North American made, Mach E, Blazer EV, Equinox Ev, and Prologue should benefit with USA made batteries.

 

[Nebula1701]