$12,500 tax credit possible?

[Oneand0]

I just saw this in the Rivian forum. I did not put in a reservation for a Rivian as I thought they were just too pricey. Once the Lightning came out I was thrilled I didn’t and can’t wait for it. https://money.usnews.com/investing/...-panel-advances-ev-tax-credit-of-up-to-12-500

Sponsored

 

[BigDill]

Possible, but I wouldn’t say probable. Seems like we can’t get people to agree in which day it is, let alone passing any proposed bills.

That said, I am pulling for this hard. Having the ability to get 12.5k in credits makes this truck a no brainer for me.

 

[Sgt Beavis]

Possible, but I wouldn’t say probable. Seems like we can’t get people to agree in which day it is, let alone passing any proposed bills.

That said, I am pulling for this hard. Having the ability to get 12.5k in credits makes this truck a no brainer for me.

It’s totally probable. It’s part of the infrastructure bill. They have the votes in the House. The Senate’s rules allow it to be passed through Reconciliation since it’s a budgetary matter. A Filibuster cannot be used against it. They did the same when passing the last stimulus package.

It’s pretty much a certainty that the bill will pass. The only question is whether the EV credit will be amended during the process.

 

[BigDill]

It’s totally probable. It’s part of the infrastructure bill. They have the votes in the House. The Senate’s rules allow it to be passed through Reconciliation since it’s a budgetary matter. A Filibuster cannot be used against it. They did the same when passing the last stimulus package.

It’s pretty much a certainty that the bill will pass. The only question is whether the EV credit will be amended during the process.

I totally agree with your logic and the inevitability of the bill passing. What I am less confident in is that the additional $5,000 of incentives will be included. I think an expansion of the credit to 500 or 600 thousand units is much more probable, and perhaps even the additional $2,500 for the US manufactured units. But the totality of it seems unlikely to me. Then again, the 2022 lightning would be my 7th Ford, so that should tell you how much I know and how smart I am not.

 

[Catmandu]

$12,500 USD tax credit.

*cries in CDN*

 

[Pedaldude]

$12,500 USD tax credit.

*cries in CDN*

Don't worry too much, at least you guys get affordable health care!

 

[EaglesPDX]

If you want it, write to your Congressional reps and Senators.

 

[beatle]

While I'd be silly not to take advantage of the incentive if the bill passes, I don't think the truck really needs an incentive to sell. I'll be buying one regardless. Demand for the truck already outstrips supply, and it likely will for some time, so there are no shortages of buyers that will buy the truck regardless.

I do think an investment into EVs is worth considering, but subsidizing the price of expensive vehicles isn't the best place to spend that investment IMO. Charging infrastructure outside of Tesla is still pretty underwhelming, and a surge in that area (no pun intended) would drive more people to EVs (pun not intended there either).

 

[Zyvin]

Don't worry too much, at least you guys get affordable health care!

Can’t afford healthcare but can buy a $100k truck that can go 40 miles. America problems.

 

[Deleted member 2919]

Can’t afford healthcare but can buy a $100k truck that can go 40 miles. America problems.

Brilliant!

 

[GIDDYUP]

It’s a $40K truck and can go over 200 miles, but don’t let that stop you

 

[Catmandu]

Don't worry too much, at least you guys get affordable health care!

ha! There is that.

But I'm hoping the Canadian existing EV tax credits get loosened/bumped up a bit. Federal is up to $5,000 for MSRP less than $45,000 (not much available at that price point) and Ontario had a $14,000 rebate incentive that our Premier cancelled.

 

[Pedaldude]

I think everyone's bigger worry should be when EVs and every car for that matter starts getting taxed on mileage. Fuel taxes are already insufficient for needed road repair. When EVs reach a certain saturation, it's only a matter of time!

 

[Brian Head Yankee]

EV's are at about 2% market share so it is not a worry at all in the near future.

 

[beatle]

VA already has an EV penalty that goes along with your registration. It's $88.20/year. Fuel efficient vehicles (over 25mpg) also pay a penalty.

In a way I don't have an issue with this, even being an EV owner. EVs are heavy (even a Leaf can be close to 2 tons) and heavy vehicles contribute more to road wear than a lighter one, all things being equal. Taxing to fund road maintenance and expansion as a function of miles driven per year and the weight of a vehicle would be a somewhat objective way of having those that contribute the most to the wear of the roads pay the most, though like any tax change, it will ruffle feathers somewhere and have ripple effects across things indirectly tied to transportation.

Sponsored