Blue highway

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the 7500 tax credit was a significant part on my decision to purchase a mach e. If it wasn't there I probably would have gone in another direction.
True early adopters don't need much of an incentive. they just like getting into the leading (bleeding) edge. For a new idea to take hold or pass the tipping point there needs to be about a 5% adoption from the public. EVs are almost there.
The tax code has been used continuously to try and influence our behavior.
just my 2cents.
The tax code has nothing to do with raising money for the government. It’s about influencing behavior and virtue signaling
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veronicablack

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It‘s not retroactive. It’s for vehicles placed in service starting January 1, 2023.
I'm still going through the bill's text but I haven't seen this explicitly written out yet. Do you have a page number?
 

Socalsp3

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If the tax credits are so critical to EV adoption, why is it that every single EV built gets sold right away or they are all on back order? That includes all the Tesla and GM EVs. The problem is not a lack of customers, it is a lack of capacity to build them.
It's no longer about demand as it is about production. This would encourage more to be produced. Car makers will now make more EV if it's more profitable or as profitable as ice. With the rising cost of batteries I think Ford only breaks even with each mme sold. If they only a have a certain number of chips to be used in ice or EV they would use it in whatever is more profitable.
 

veronicablack

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It‘s not retroactive. It’s for vehicles placed in service starting January 1, 2023.
Ah nvm I think I may have found it. Page 386. Note: I'm not a lawyer but if I'm reading this correctly, cars put in service before the bill's passage wouldn't be affected by this bill.

3) PER VEHICLE DOLLAR LIMITATION AND RE7 LATED REQUIREMENTS.—The amendments made by 8 subsections (a) and (e) shall apply to vehicles placed 9 in service after the date on which the proposed guid10 ance described in paragraph (3)(B) of section 11 30D(e) of the Internal Revenue Code of 1986 (as 12 added by subsection (e)) is issued by the Secretary 13 of the Treasury (or the Secretary’s delegate).
edit:

Actually I think this is the more relevant portion. Bottom page 385 top of 386.

(1) IN GENERAL.—Except as provided in para25 graphs (2), (3), (4), and (5), the amendments made 386 ERN22335 9K1 S.L.C. 1 by this section shall apply to vehicles placed in serv2 ice after December 31, 2022.
 
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generaltso

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If this passes, it will be really bad for Rivian. They would have had several years of credits left, but now all their vehicles over $80k won’t qualify at all. The same is true for the higher trims of the F-150 Lightning, but Ford was going to run out of credits after next year anyway.
 

SWO

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It's no longer about demand as it is about production. This would encourage more to be produced. Car makers will now make more EV if it's more profitable or as profitable as ice. With the rising cost of batteries I think Ford only breaks even with each mme sold. If they only a have a certain number of chips to be used in ice or EV they would use it in whatever is more profitable.
Car companies are already making as many EVs as they can. The tax credit just makes them more expensive at this point.

Just watch. Tesla is about to be inundated with orders and the price will go up.
 

Regulus7

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Well so long as it does not take away my $7500 credit for this year’s purchase I don’t care. It would be really bad if it was retroactively applied to tax year 2022 as many of us decided on EV because of the credit
 

voxel

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If this passes, it will be really bad for Rivian. They would have had several years of credits left, but now all their vehicles over $80k won’t qualify at all. The same is true for the higher trims of the F-150 Lightning, but Ford was going to run out of credits after next year anyway.
Yes and no. Rivian buyers fall into the higher income tax bracket and would possibly not be eligible.

And honestly, I'd still buy my $75K Rivian R1S order without the tax credit. The new price is $93K or something.
 

P. T. Magoo

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It's in this bill's favor that it's not 130 years ago. If cars could still burn coal, it would never get past Manchin's desk.

Then again, in some states electric cars still do run mostly on coal don't they?

Let's see... which states?

Mystery solved. ;)
 

SWO

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If this passes, it will be really bad for Rivian. They would have had several years of credits left, but now all their vehicles over $80k won’t qualify at all. The same is true for the higher trims of the F-150 Lightning, but Ford was going to run out of credits after next year anyway.
Agree. Not good for Polestar or other chinese cars either, which is a good thing.
 

voxel

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The next question is (same as back in Nov/Dec): Does the Mach-Es over $55K qualify? Is the Mach-E considered a station wagon or SUV by the the IRS?
 
 




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