EV tax credit increase to $12,500 in Biden's latest proposal as of 10/28

[demicoro]

You might change your mind if you live in "Taxington" State......

Darlin' I live in Sweden... You'll never catch up.

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[Kidentist]

Darlin' I live in Sweden... You'll never catch up.

Sorry "Darling"....just happened to read "Florida" on your profile. Enjoy your meatballs.....

 

[demicoro]

Sorry "Darling"....just happened to read "Florida" on your profile. Enjoy your meatballs.....

Thank you!

 

[RivianXpress]

The bill as it is proposed today will put at least $2B into Tecla's bank account in 2022 alone.

Tesla will raise the price (by an amount slightly less than the $8K incentive) on both the Model 3 and Model Y. They have demonstrated this in the past, and have always employed dynamic pricing. The end result will be a slightly lower price to the consumer (after the credit). Maybe $3K out of the $8K. Giving Tesla $5K net for every 3 and Y they can crank out (400K? 500K?) is not going to result in more EVs on the road and not how I want my tax dollars spent.
Will Chevy keep the Bolt MSRP @ $31K once a $12K incentive becomes available? I doubt it. They know that then "market price" is about $30K, and adjusted accordingly when GM reached the phase out stage (original MSRP was $37,500). Anyone think they will be able to buy a Bolt EV for $19K?
The original intent of the Tax Credit (and 200K cap per manufacturer) was to help mitigate the costs of developing and starting production of EVs. Tesla has demonstrated their is no need for them to qualify for Tax Credits - they are profitable and can sell more than they are capable of producing. Other manufacturers will get there (or not) without changing the incentive program.

I would much rather this new Tax Credit program be scrapped and revert to the flawed (but still better) existing program. Adding more bandaids and special interest concessions to the current proposed mess will result in an even more complicated Bill with higher overhead costs.

Carvana thinks they can buy one for the price with (premium with 12K miles)!

Friend is working with GM on a buy back. It's a long process.

 

[DucRider]

Carvana thinks they can buy one for the price with (premium with 12K miles)!

Friend is working with GM on a buy back. It's a long process.

With the $12K Tax Credit, and the OR rebate, a brand new 2020 LT would be ~$16,500 in OR

 

[Rob Stark]

https://www.reuters.com/article/usa-autos-tax-credit-idUSL1N2RU3FO

In the newest Democrat proposal the price limit for the Federal EV credit for SUVs. Pickups and Vans jumps to $80k.

Income limit is lowered to $250k/year or $500k/year for joint fillers.

 

[RexRemus]

https://www.reuters.com/article/usa-autos-tax-credit-idUSL1N2RU3FO

In the newest Democrat proposal the price limit for the Federal EV credit for SUVs. Pickups and Vans jumps to $80k.

Income limit is lowered to $250k/year or $500k/year for joint fillers.

hahaha perfect, now the vehicle qualifies, but I don't ?

Not gonna change anything for me, but I find this turn of events amusing. I'm certain it does help many folks though. 80k seems a much more sensible number for EV SUVs

 

[Florida Panhandler]

I suspect Ford and GM got in the ear of Democratic Reps about the price caps not being high enough to cover an optioned out F150 Lightning or the upcoming Chevy EV pickup (debuting public early 2022). Good news for my Rivian R1s Adventure build. I wonder if Rivian will form a quick internal worker union to get around the $4500 extra credit for union labor clause or is the wording specifically for UAW?

 

[Rob Stark]

I suspect Ford and GM got in the ear of Democratic Reps about the price caps not being high enough to cover an optioned out F150 Lightning or the upcoming Chevy EV pickup (debuting public early 2022). Good news for my Rivian R1s Adventure build. I wonder if Rivian will form a quick internal worker union to get around the $4500 extra credit for union labor clause or is the wording specifically for UAW?

Not specifically UAW.

But if Rivian, Lucid, Tesla or any of the foreign automaker domestic workforces form a union not affiliated with UAW, then the UAW will almost certainly file a complaint with the NLRB(National Labor Rights Board) that said union is a company sponsored Union. Which is prohibited in the USA by law.

Joe Biden has appointed the majority of the members of the NLRB and would almost certainly side with the UAW.

 

[Aroohoo]

I suspect Ford and GM got in the ear of Democratic Reps about the price caps not being high enough to cover an optioned out F150 Lightning or the upcoming Chevy EV pickup (debuting public early 2022). Good news for my Rivian R1s Adventure build. I wonder if Rivian will form a quick internal worker union to get around the $4500 extra credit for union labor clause or is the wording specifically for UAW?

There's probably a loophole there that a good lawyer could get through given that the current definition doesn't say the car has to be assembled by organized labor.

The term ‘domestic assembly qualifications’ means, with respect to any new qualified plug-in electric vehicle, that the final assembly of such vehicle occurs at a plant, factory, or other place which is located in the United States and operating under a collective bargaining agreement negotiated by an employee organization (as defined in section 412(c)(4)), determined in a manner consistent with section 37701(a)(46).

Might be able to let the factory electricians organize under IBEW, or the cafeteria workers organize under UFCW and qualify.

That said, US companies view Unions like the plague and will do anything to keep them from getting a foot in the door. I'd be very surprised if Rivian would welcome labor organizing just so it might be able to sell a few more cars...

 

[Autolycus]

An interesting point about the transferability of the credit: I believe that only applies to vehicles purchased after 12/31/2022.

(e) EFFECTIVE DATES.—
(1) The amendments made by subsections (a),
(c), and (d) of this section shall apply to vehicles ac- quired after December 31, 2021.
(2) The amendments made by subsection (b) shall apply to vehicles acquired after December 31, 2022.

Unless I'm messing up my subsections, (b) is the one that relates to transfer of the credit to the "dealer".

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