Potential future EV credit changes [NO POLITICS]

[gorwell]

Already been encouraging my mom to get one of these, this just makes it that much better. IF this passes, that means that $20K EV’s are officially here.

Bought a brand new Egolf SEL for $17K back back in 2019 when they where giving them away

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[greenne]

To make this even more confusing and complicated for anyone doing Solar this year also.

https://pv-magazine-usa.com/2022/07/28/solar-investment-tax-credit-to-be-extended-10-years-at-30/

Looks like an increase on the write off for solar. But if I understand it may not roll over to later years if you don’t get full credit taken in one year

That would be a big oversight if it didn't allow rollovers.

I still have solar credits from a previous install I need to roll...

 

[Blainestang]

I have yet to find a person that said they wouldn't buy a Tesla if they didn't get the EV tax credit

I wouldn't have bought mine without the credit*.

Neither would my father-in-law, even though he could afford to buy a Model X Plaid for himself, all of his kids, and his neighbors, cash.

Some people stretch to buy one, and some people just like to feel like they're getting a good deal even if they could afford it anyway.

The caps are dumb. We want people to chose Platinum Lightnings over Platinum gas F150s. We want people to buy Taycans instead of Panameras, etc. The caps are to make them more palatable for congress and dumb voters, not more effective toward the goal of EV sales.

*IMO, the credit is mostly eaten up by manufacturers just raising prices accordingly, but at the price it was at the moment, $7500 was a deciding factor.

 

[RavenYZF-R6]

I wouldn't have bought mine without the credit*.

Neither would my father-in-law, even though he could afford to buy a Model X Plaid for himself, all of his kids, and his neighbors, cash.

Some people stretch to buy one, and some people just like to feel like they're getting a good deal even if they could afford it anyway.

The caps are dumb. We want people to chose Platinum Lightnings over Platinum gas F150s. We want people to buy Taycans instead of Panameras, etc. The caps are to make them more palatable for congress and dumb voters, not more effective toward the goal of EV sales.

*IMO, the credit is mostly eaten up by manufacturers just raising prices accordingly, but at the price it was at the moment, $7500 was a deciding factor.

Same. I wouldn’t buy without the credit and on top of that when the BBB was being talked about they jacked up prices 7k thinking it would pass and it failed.

 

[Gerrard155]

I wouldn't have bought mine without the credit*.

Neither would my father-in-law, even though he could afford to buy a Model X Plaid for himself, all of his kids, and his neighbors, cash.

Some people stretch to buy one, and some people just like to feel like they're getting a good deal even if they could afford it anyway.

The caps are dumb. We want people to chose Platinum Lightnings over Platinum gas F150s. We want people to buy Taycans instead of Panameras, etc. The caps are to make them more palatable for congress and dumb voters, not more effective toward the goal of EV sales.

*IMO, the credit is mostly eaten up by manufacturers just raising prices accordingly, but at the price it was at the moment, $7500 was a deciding factor.

Respectfully, I have to fundamentally disagree with you. Ultimately these tax credits are paid for by tax payers-the idea that someone making $40K a year would be subsidizing someone making $400K a year buying a $100K EV is absurd and morally bankrupt. As far as manufacturers raising prices relative to the tax credits-your problem is with the manufacturers, not the law.

 

[Maquis]

 

[Blainestang]

Respectfully, I have to fundamentally disagree with you. Ultimately these tax credits are paid for by tax payers-the idea that someone making $40K a year would be subsidizing someone making $400K a year buying a $100K EV is absurd and morally bankrupt. As far as manufacturers raising prices relative to the tax credits-your problem is with the manufacturers, not the law.

I fundamentally disagree with how you've framed the credits, but we're probably already in violation of the "no politics" rule, so, I guess we'll just have to agree to disagree haha.

 

[Lightninorian]

That would be a big oversight if it didn't allow rollovers.

I still have solar credits from a previous install I need to roll...

The article states rollovers are allowed.

 

[Technoman]

The article states rollovers are allowed.

The rollover that would impress me would be the $7500. Carry-forward for the lower income people would be the kinda thing I'd expect from this regime. Better yet point of sale rebate...might be possible. I just might git me that Lightning and the wife a Blazer all in the same year. How about effective date retro to January... This is getting interesting LOL

 

[Lightninorian]

The rollover that would impress me would be the $7500. Carry-forward for the lower income people would be the kinda thing I'd expect from this regime. Better yet point of sale rebate...might be possible. I just might git me that Lightning and the wife a Blazer all in the same year. How about effective date retro to January... This is getting interesting LOL

Point of sale would be the easiest. Makes it even across the board unless your above the income limits or buying a luxury vehicle above the msrp limits. Then do you really need more money back. This administration is almost like Oprah. You get a stimulus, and you get a ppp loan and you get an incentive and you get student loan forgiveness. Inflation is at an all time high, who would have thought.

Edit: not politics, simple economics.

 

[greenne]

The rollover that would impress me would be the $7500. Carry-forward for the lower income people would be the kinda thing I'd expect from this regime. Better yet point of sale rebate...might be possible. I just might git me that Lightning and the wife a Blazer all in the same year. How about effective date retro to January... This is getting interesting LOL

We were reffering to rollovers of solar credit..not EV. Since EV tax credit will be Point if Sale no rollover needed.

Rollovers have been allowed for solar credit many yrs up until now. It woukd be crazy if they took that away(solar credit rollover)

 

[TaxmanHog]

Pre-summer break /mid-term election baiting is all I see.
Until the congress passes the legislation and #46 signs it into law..... I'm biting my tongue.

 

[FordLightningMan]

It looks like the new bill would be effective January 1st, so that should mean any income and vehicle price limits are irrelevant for Lightnings purchased in 2022?

If the income limit kicked in before the end of the year, I imagine there are a number of people who thought they were getting a $7,500 tax rebate, who will no longer qualify.

Also, if the MY23 price goes up, then the price cap would make the higher Lightning trims no longer eligible. This could be bad news in Q4 if things pass quickly and the new rules apply sooner than Jan 1st.

Will be interesting how quickly this becomes effective.

 

[Maquis]

It looks like the new bill would be effective January 1st, so that should mean any income and vehicle price limits are irrelevant for Lightnings purchased in 2022?

If the income limit kicked in before the end of the year, I imagine there are a number of people who thought they were getting a $7,500 tax rebate, who will no longer qualify.

Also, if the MY23 price goes up, then the price cap would make the higher Lightning trims no longer eligible. This could be bad news in Q4 if things pass quickly and the new rules apply sooner than Jan 1st.

Will be interesting how quickly this becomes effective.

I think there is a provision that allows you to use the old rules if you have a signed contract to purchase dated in 2022.

 

[bryan995]

I have yet to find a person that said they wouldn't buy a Tesla if they didn't get the EV tax credit,

I also would not have bought either of our previous 2 Tesla or this lightning w/o the tax credit. I am a value shopper

I think there is a provision that allows you to use the old rules if you have a signed contract to purchase dated in 2022.

One of the primary reasons I am buying is to get the $7500 rebate. If they change the rules and the income cap is enacted then we would be SOL.

And I think that stipulation is only for folks who only take delivery into 23. They can keep the old income caps if they can produce a signed order sheet in 2022 for a delivery that hangs over into 2023. But I don’t think getting that order sheet is possible for any of us.

So I need to take delivery prior to Dec 2022 or otherwise find a way for one of our children to purchase and take the credit

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