F-150 Lightning EV Tax Credits & Rebates - Discussions & Predictions

[GarageMahal]

I expect that the Dem’s being so close on a final framework is why the 10/26 order bank opening is rumored to be delayed.

I don't think it would matter to Ford at all. People have until the first order window closes to decide. There is really little benefit in ordering on day one as long as the order is entered before the window closes.

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[Brian Head Yankee]

Yeah, no Ford doesn't care because they are at least a year away from hitting the 200,000 cap on rebates.

 

[ShirBlackspots]

1) Delete the Union-Made Vehicle extra credit (because the West Virginia Senator is in charge and his state is not exactly Union Friendly);

2) Extend the $7,500 credit to ALL vehicles, including GM & Tesla (lobbyists have spent too much to give this up);

3) Change the Tax Credit to a Point-of-Sale Cash Credit.

1.) This is fine, if it can get passed
2.) The credit should be $10,000 for Union, Non-Union, US and non-US built EVs. A $3000 credit for used EVs.
3.) This is the way.

 

[greenne]

I don't think it would matter to Ford at all. People have until the first order window closes to decide. There is really little benefit in ordering on day one as long as the order is entered before the window closes.

The only issue would be pricing..in case there is a cap. Previous proposals had a $74k or 80k cap. Ford may try to squeeze as many trims under the cap they can if that' is in the bill.

Once they announce pricing it would be harder to walk that back...

 

[greenne]

1.) This is fine, if it can get passed
2.) The credit should be $10,000 for Union, Non-Union, US and non-US built EVs. A $3000 credit for used EVs.
3.) This is the way.

The big improvement would be the point of sale (i.e. refundable) tax credit. As it is now with the current credit you have to be making $70k/yr in taxable income to take advantage--even more if you have kids or other credits. That eliminates a lot of potential customers and skews the credit towards the rich.

 

[ShirBlackspots]

The big improvement would be the point of sale (i.e. refundable) tax credit. As it is now with the current credit you have to be making $70k/yr in taxable income to take advantage--even more if you have kids or other credits. That eliminates a lot of potential customers and skews the credit towards the rich.

That was why one of the Republicans used that to say something like "We shouldn't be subsidizing cars that the rich buy." Or "We shouldn't subsidize something only the rich buy."

 

[greenne]

That was why one of the Republicans used that to say something like "We shouldn't be subsidizing cars that the rich buy." Or "We shouldn't subsidize something only the rich buy."

While I agree with sentiment 100%, that shouldn't be used as an excuse to say "its not working" and get rid of it.

(Many in Congress like to try that play that game to get rid of something they don't like)

The answer is to simply make it refundable(either as a Point if sale or carryover credit) so most everyone can use it.

The solar credit has been that way for years....

 

[bboy_72]

The only issue would be pricing..in case there is a cap. Previous proposals had a $74k or 80k cap. Ford may try to squeeze as many trims under the cap they can if that' is in the bill.

Once they announce pricing it would be harder to walk that back...

Agreed. I would think the details of the incentives do matter very much to Ford and other manufacturers.

 

[KR17601]

I thought the tax credit was based on model not over all electric vehicles a manufacture makes. Thus, Mach E and such have nothing to do with the Lightning.

 

[Sgt Beavis]

I thought the tax credit was based on model not over all electric vehicles a manufacture makes. Thus, Mach E and such have nothing to do with the Lightning.

No, it's based on ALL EVs an OEM sells. The new Hummer doesn't qualify for the EV credit because Chevy sold a lot of Bolts and other EV/PHEVs.

 

[Sgt Beavis]

1.) This is fine, if it can get passed
2.) The credit should be $10,000 for Union, Non-Union, US and non-US built EVs. A $3000 credit for used EVs.
3.) This is the way.

Agree on point 2... though I'm perfectly fine if they limit it to US built EVs. Almost all of the import OEMs have US factories they can leverage. For instance, VW is planning to build all of the US market EVs in Tennessee.

I have zero issues with workers organizing but many, in the southern states, simply don't want it. They are distrustful of the UAW. Frankly, after the recent scandals, they should be.

The big improvement would be the point of sale (i.e. refundable) tax credit. As it is now with the current credit you have to be making $70k/yr in taxable income to take advantage--even more if you have kids or other credits. That eliminates a lot of potential customers and skews the credit towards the rich.

PREACH. I can easily take advantage of the tax credit. But it needs to be accessible to everyone. IMO, they just need to be careful of the income cutoff. Someone making $150K in New York isn't even upper middle class. Here in Denver, you can't even afford a house with that kind of income.

 

[Nick Gerteis]

I am retired for some years and had put money into my 403b for years tax free when I was in a 12% tax bracket. I had hoped to pull it out when old at a low tax rate but now my farm and rentals (and creeping inflation) boosted me up to 19%!

So, what I am doing is pulling out enough in 2022 to make my tax due payable in 2023 at about $7,500. The money I am pulling out goes for the Lightning. That is one way to do it. If you have a business there is also the possibility of spreading out the $7,500 tax credit over a number of years. **

**Again - a question for your Accountant**

Same plan here. It also means I won’t have to get a loan as long as I stick with the Pro.

 

[metroshot]

No, it's based on ALL EVs an OEM sells. The new Hummer doesn't qualify for the EV credit because Chevy sold a lot of Bolts and other EV/PHEVs.

Yes, but don't forget the alternative fuel (hydrogen fuel cell, CNG) and PHEV vehicles like the one I drive all get the $7500 tax credit.

GM and Tesla have exhausted their allotment of the tax credits long ago...

Wonder when Ford will run out when the all their PHEV & BEV hits 200,000....

 

[Sgt Beavis]

Yes, but don't forget the alternative fuel (hydrogen fuel cell, CNG) and PHEV vehicles like the one I drive all get the $7500 tax credit.

GM and Tesla have exhausted their allotment of the tax credits long ago...

Wonder when Ford will run out when the all their PHEV & BEV hits 200,000....

I think 2022 is likely. They can't build the Mach-E fast enough but I think that and the Lightning will push them over the edge.

 

[sotek2345]

Yes, but don't forget the alternative fuel (hydrogen fuel cell, CNG) and PHEV vehicles like the one I drive all get the $7500 tax credit.

GM and Tesla have exhausted their allotment of the tax credits long ago...

Wonder when Ford will run out when the all their PHEV & BEV hits 200,000....

Current estimate is they hit the 200k mark at the end of 2022, which means deliveries through June 2023 will get the full credit.

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