EV Tax Credit Expansion Deal Reached by Senate

[VTbuckeye]

Good question. The summary above says that the new credit rules apply to all EV sales starting 1-JAN-23. There are some auto manufacturers overseas that have been very important to EV development in North America that will now be locked out of the tax credit unless they start manufacturing in North America.

I’m afraid there are going to be some very unhappy auto manufacturers. I see this new tax credit rule has the potential to be very disruptive to the auto industry. I can already envision the books and movies about how the 2022 EV tax credit changed the auto industry.

Or the foreign manufacturers will have to start making cars in the US?

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[SmokingtheMeats]

40000 - 12500 = 27500 last I checked !

It’s only 7500 rebate, not 12,500

 

[shutterbug]

From what I read that was still in debate... does the bill go into effect when it is passed or 1/1/22. If so it is then dependent on what constitutes a "binding agreement". Can you point me to where I can see that clearly defined in the bill that if I take order in 2002 I am good?

Not a debate, if you read it. It could change before passing, but for now 1/1/2023. It is not retroactive.

 

[bryan995]

It’s only 7500 rebate, not 12,500

Yes yes sorry. I thought I saw somewhere that the $4000 Union piece was back but that seems to be only for the original draft.

PRO SR @ 40000-7500 = 32500 is still not half bad !

 

[luebri]

Not a debate, if you read it. It could change before passing, but for now 1/1/2023. It is not retroactive.

I know the new credits are not retroactive. Regarding the current credits…. I’ve read the transition amendment if the bill and I can’t see anything that clears up orders that are placed after the bill is signed that are still take delivery in 2022

 

[jefro]

Dumb credits are still kinda geared to maybe benefit lease companies and higher earners or higher tax payers. Last time lease companies tended to pocket the credit.

 

[Roy2001]

Dumb credits are still kinda geared to maybe benefit lease companies and higher earners or higher tax payers.

Why higher earners? Capped at $300k.

 

[broncoaz]

Why higher earners? Capped at $300k.

People making $300K don’t need tax credits to buy electric vehicles. I don’t make that much and can afford the truck without the $7500. I’d rather not waste more taxpayer money on such things.

 

[Roy2001]

People making $300K don’t need tax credits to buy electric vehicles. I don’t make that much and can afford the truck without the $7500. I’d rather not waste more taxpayer money on such things.

I mean higher earners won't get tax credits, why he said " credits are still kinda geared to ....... higher earners or higher tax payers".

Not arguing that they should get.

 

[Texas Dan]

I hate to be the bearer of bad news but the new climate and energy bill is not as environmentally friendly as we in the EV community would hope for in a bill that promotes electric vehicles. Congress had to make huge concessions to Joe Manchin for fossil fuel expansion to get him to sign off on the bill. A quote from Mr. Manchin states, "Get rid of all fossil, get rid of all coal, get rid of all oil, get rid of all gas, get rid of everything; Yeah, and it would all go to hell in a handbasket."

And yet the bill is being promoted as the largest piece of climate legislation so far adopted in the United States. Environmental groups are saying things about the bill like, "it's a slap in the face of to the communities fighting to protect themselves from filthy fossil fuels." Is the $7,500 tax credit all of us prospective F150L buyers are hoping for really important enough to us to make these kinds of concessions to the fossil fuel industry?

I guess we have to remember that progress comes with a price.

 

[luebri]

I hate to be the bearer of bad news but the new climate and energy bill is not as environmentally friendly as we in the EV community would hope for in a bill that promotes electric vehicles. Congress had to make huge concessions to Joe Manchin for fossil fuel expansion to get him to sign off on the bill. A quote from Mr. Manchin states, "Get rid of all fossil, get rid of all coal, get rid of all oil, get rid of all gas, get rid of everything; Yeah, and it would all go to hell in a handbasket."

And yet the bill is being promoted as the largest piece of climate legislation so far adopted in the United States. Environmental groups are saying things about the bill like, "it's a slap in the face of to the communities fighting to protect themselves from filthy fossil fuels." Is the $7,500 tax credit all of us prospective F150L buyers are hoping for really important enough to us to make these kinds of concessions to the fossil fuel industry?

I guess we have to remember that progress comes with a price.

Way to stay out of the politics... I'll bite my Tongue so this doesnt go down a major rabbit hole. Bottom line is there are individuals of every political persuasion and every spectrum of the climate debate that will buy F150 lightnings. This is a forum about the F150 lightning. Comment on how the bill effects the ownership of F150 lightning owners... that is the scope of this forum.

 

[Nick Gerteis]

I hate to be the bearer of bad news but the new climate and energy bill is not as environmentally friendly as we in the EV community would hope for in a bill that promotes electric vehicles. Congress had to make huge concessions to Joe Manchin for fossil fuel expansion to get him to sign off on the bill. A quote from Mr. Manchin states, "Get rid of all fossil, get rid of all coal, get rid of all oil, get rid of all gas, get rid of everything; Yeah, and it would all go to hell in a handbasket."

And yet the bill is being promoted as the largest piece of climate legislation so far adopted in the United States. Environmental groups are saying things about the bill like, "it's a slap in the face of to the communities fighting to protect themselves from filthy fossil fuels." Is the $7,500 tax credit all of us prospective F150L buyers are hoping for really important enough to us to make these kinds of concessions to the fossil fuel industry?

I guess we have to remember that progress comes with a price.

No worries. At this point in the transition to renewables, reducing restrictions on FF is like reducing restrictions on horse breeding and buggy whips. The ship has sailed, market forces will shut down FF over the next decade no matter what.

 

[Texas Dan]

Way to stay out of the politics... I'll bite my Tongue so this doesnt go down a major rabbit hole. Bottom line is there are individuals of every political persuasion and every spectrum of the climate debate that will buy F150 lightnings. This is a forum about the F150 lightning. Comment on how the bill effects the ownership of F150 lightning owners... that is the scope of this forum.

The tax credit and the F150L by their very nature are political and to say that this forum is not political is naive. F150 lightning owners have the right to be aware of what the true price of ownership is.

 

[luebri]

Your statement regarding "cost of the bill" is opinion based on your political and climate change views. I for one did not choose to purchase my Lightning because it diverted my fossil fuel emissions from my tailpipe to the local fossil fuel Power plant. If you install Solar then I can tip my hat to you on "doing your part".

The real cost is throwing more gas "artificial money" into the raging fire that is our inflationary economy, thats the real cost.

 

[Texas Dan]

No worries. At this point in the transition to renewables, reducing restrictions on FF is like reducing restrictions on horse breeding and buggy whips. The ship has sailed, market forces will shut down FF over the next decade no matter what.

I'm a strong proponent of renewables and I wish I could say I agree with you but, unfortunately, the new bill links development of renewables with the development of fossil fuels. I have been fighting for a sustainable future for decades. I have grown pretty dispassionate about sustainability goals.

But we are making so very serious sustainability achievements now and those achievements are disruptive to say the least. I believe that over the next decade or two there are going to be segments of the populations across the globe that are going to be very, very upset and violently opposed to the changeover to renewables and electric vehicles. The more governments force the change, the more resistance there will be.

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