Potential future EV credit changes [NO POLITICS]

[DadBald]

Will be interesting to see where it goes, but it seems to me that an income cap goes against the intent of the credit... It's supposed to be an incentive to get more EVs on the road instead of ICE vehicles for carbon emissions reduction; not a low-income assistance program.

If they do implement a cap, I wonder if it will work like the Covid stimulus payments with different caps for individual or married filing jointly - obviously a couple's income will be different than an individual. Depending on how it goes, as the primary breadwinner of the house... Looks like this might be "my wife's truck." ?

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[bboy_72]

Looks like a $100K income cap is being discussed. Works for me.

Meaning if someone's income is >$100k/yr they would not be eligible for the EV rebate/tax credit?

 

[bboy_72]

Looks like a $100K income cap is being discussed. Works for me.

This was discussed in the Senate in August but did not go anywhere. Where are you reading this now- can you post link to source? It's pretty bad policy if the goal is to get more EV's on the road.
https://arstechnica.com/cars/2021/08/senate-votes-to-restrict-ev-tax-credits-despite-climate-crisis/

 

[Brian Head Yankee]

Looks like a $100K income cap is being discussed. Works for me.

Care to share your source?

I see a $ 400,000 income cap, not a $ 100,000 income cap. There was an old amendment floated 6 weeks ago that proposed to limit income to $100k AND car price to $40k. Both restrictions will not drive EV sales.

 

[ZDog]

Looks like a $100K income cap is being discussed. Works for me.

I think it’s unproductive to get too worked up about federal EV tax rebate changes until we see what shakes out in the negotiations underway now in Congress. https://arstechnica.com/cars/2021/08/senate-votes-to-restrict-ev-tax-credits-despite-climate-cr

Care to share your source?

I see a $ 400,000 income cap, not a $ 100,000 income cap. There was an old amendment floated 6 weeks ago that proposed to limit income to $100k AND car price to $40k. Both restrictions will not drive EV sales.

Agree. I think the good news with the active negotiations underway in Washington, it looks likely (if Ford gives us a Bronco-like two month window for reservation holders to submit their Lightning orders,) that should allow enough time for Congress to decide EV tax rebate qualification details before we have to submit our order.

 

[sotek2345]

This was discussed in the Senate in August but did not go anywhere. Where are you reading this now- can you post link to source? It's pretty bad policy if the goal is to get more EV's on the road.
https://arstechnica.com/cars/2021/08/senate-votes-to-restrict-ev-tax-credits-despite-climate-crisis/

Here is a source:

https://www.reuters.com/world/us/wh...hrink-reconciliation-bill-sources-2021-09-27/

 

[bboy_72]

Here is a source:

https://www.reuters.com/world/us/wh...hrink-reconciliation-bill-sources-2021-09-27/

Got it. Thank you!

That's interesting.
" Senate Democrats are considering a lower threshold that could go as low as $100,000, sources said. "

 

[Erik]

There may be an interesting used market for people that are eligible for the credit who can sell to people who are not eligible. Especially if the rebate is $12,500 then it would be possible to sell the EV a year later with a profit and buy a new EV.

 

[DadBald]

Agree. I think the good news with the active negotiations underway in Washington, it looks likely (if Ford gives us a Bronco-like two month window for reservation holders to submit their Lightning orders,) that should allow enough time for Congress to decide EV tax rebate qualification details before we have to submit our order.

So would this have to be at time of order? Or time of purchase? Seems like they ask what year you "bought" the vehicle, which to me would mean delivery and finance date.

 

[FordLightning]

If they want the US to be competitive globally, they should give the highest incentive to US owned non-union companies (Tesla), rather than giving the highest rebate to a foriegn owned Chrysler (Stellantis). Makes absolutely no sense, unless it is political payback for all the manufactured votes.

 

[Pioneer74]

Makes absolutely no sense, unless it is political payback

 

[Nick Gerteis]

Here is a source:

https://www.reuters.com/world/us/wh...hrink-reconciliation-bill-sources-2021-09-27/

Yep, that’s the one I was referring to.

 

[ZDog]

So would this have to be at time of order? Or time of purchase? Seems like they ask what year you "bought" the vehicle, which to me would mean delivery and finance date.

My point was that Congressional decisions on the final EV rebate qualification limits may be finalized before we have to place our Lightning order, so we’d know at the time we order whether our Lightning will or won’t qualify for the new rebate program. Ultimately, the year you get any rebate you qualify for will be the year you actually acquire the truck.

 

[greenne]

This was discussed in the Senate in August but did not go anywhere. Where are you reading this now- can you post link to source? It's pretty bad policy if the goal is to get more EV's on the road.
https://arstechnica.com/cars/2021/08/senate-votes-to-restrict-ev-tax-credits-despite-climate-crisis/

As has bern discussed previouly, this was a non binding Senate resolution in vote o rama. It doesn't mean jack, its a political ploy for certain legislators to get on the record as supporting "the little guy" when they really don't support evs at all. For example, the yay votes can now say they support EVs, knowing damn well it does very little good as there are very few options under $40k msrp.

Its smoke and mirrors, no onecis taking that seriously

 

[JPro]

Sheesh, I really hope they don't drop the income limit to $100k, I fluctuate a bit above or below that on any given year and really need to get the price on this truck closer to 30k vs 40k (Pro) to make it feasible for me otherwise it's way more economical for me to keep my old paid off gasser that gets 14 mpg on a good day.

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