Senate Bill Deal to Expand EV Tax Credits (7/27/2022)

[kennethjk]

To get back to the subject at hand, this may help a bit.

it comes from KPMGs website and is from the senate version which I believe is the final version of the bill.

The Senate bill would bifurcate the $7,500 credit into two components:
• $3,750 if critical minerals requirements are satisfied; plus
• $3,750 if battery component requirements are satisfied.
The critical minerals requirements provide that the applicable critical minerals in a battery must be (1) extracted in the United States or a country with which the United States has a free trade agreement in effect, or (2) recycled in North America. The value of “good” minerals must be equal or greater to an applicable percentage. The applicable percentages for the critical minerals requirement are as follows:
• 2023—40%
• 2024—50%
• 2025—60%
• 2026—70%
• 2027 and later—80%
This provision would go into effect as soon as the IRS issues guidance on the requirement which the statute states is to be no later than December 31, 2022.

The battery component requirements provide that the percentage of the value of the components contained in such battery that were manufactured or assembled in North America must be equal to or greater than the applicable percentage. The applicable percentages for the battery component requirement are as follows:
• 2023—50%
• 2024-2025—60%
• 2026—70%
• 2027—80%
• 2028—90%
• 2029 and later—100%
This provision would also go into effect as soon as the IRS issues guidance on the requirement which the statute states is to be no later than December 31, 2022.

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[Socalsp3]

Yes it's a conspiracy by scientists to kill oil companies because they have nothing to do

 

[ARK]

I’m left scratching my head at this, where is this argument coming from, who backs it up? It just seems to come out of thin air simply because you don’t like the message.

It seems if there is any cherry picking going on, it is disregarding the vast majority of data in support of global warming to hyper focus on something someone once said five years ago that is inconclusive or shows otherwise.

 

[kennethjk]

Aren’t we going in circles. I know I shouldn’t even be responding but I am retired and have nothing else to do.

gets back to what I said before, 40% of the people won’t believe anything anyone says even if it 100% true, if they don’t agree with it.
sure there are some people, scientists, who want to make a name for themselves , but the vast majority actually believe what they say, doesn’t mean they are always right but I still don’t understand how any non expert can say they are wrong, if they have done the scientific work.

oh well.

 

[DennisD]

For the same reason they issued the statement that exists currently. They are selling them fast now but still have that statement up. By using your logic they would have taken it down months ago. They do it for customer service if you will.

Once again, there will be many buyers and Dealers that are left scratching their heads today. A statement from Ford (with a massive amount of Lawyers) could easily state that the current policy (if Grandfathered like many suggests) will still apply until the end of 2022.

They would not be giving tax advice. They simply would reassure the people that are buying them this week and on what the situation on the ground is to keep confusion down to a minimum.

 

[ARK]

I bolded the part of your post that is the most problematic. Who says scientists don’t know or are helpless to know what amount of warming is expected or how much, if any, impact humans are having?

It’s really what it comes down to, where is this belief that scientists have no idea or unsure of these things coming from?

Because as a lay person, there seems to me that there is pretty strong agreement in the scientific community that current warming is way off normal, that it is human driven, and that substantial and fast warming will make life worse for humans (regardless of how hot or cold the planet might have been before life existed, when only bacteria existed, when the dinosaurs ruled the planet, etc).

 

[awiseman5]

am i ineligible for the credit regardless if i'm over the $150K income limit? or does this clause only take effect in 2023?

 

[RedStallion]

I bolded the part of your post that is the most problematic. Who says scientists don’t know or are helpless to know what amount of warming is expected or how much, if any, impact humans are having?

It’s really what it comes down to, where is this belief that scientists have no idea or unsure of these things coming from?

Because as a lay person, there seems to me that there is pretty strong agreement in the scientific community that current warming is way off normal, that it is human driven, and that substantial and fast warming will make life worse for humans (regardless of how hot or cold the planet might have been before life existed, when only bacteria existed, when the dinosaurs ruled the planet, etc).

I can't believe after 2020 anybody would say that. Having an unthinkable corruption in all government, social, cultural, and science institutions blind faith in them seems to be quite naive.
In fact we know, that scientists differ a lot on these issues (science is not a religion, there are no dogmas), and heavy handed government involvement playing on one side and resulting corruption, lies, propaganda, censorship should tell you everything you need to know. Censorship didn't exist until the truth started coming out.

 

[Socalsp3]

I can't believe after 2020 anybody would say that. Having an unthinkable corruption in all government, social, cultural, and science institutions blind faith in them seems to be quite naive.
In fact we know, that scientists differ a lot on these issues (science is not a religion, there are no dogmas), and heavy handed government involvement playing on one side and resulting corruption, lies, propaganda, censorship should tell you everything you need to know. Censorship didn't exist until the truth started coming out.

You will never have 100% consensus on anything. You already know what most scientists believe. Just because there is no absolute 100% consensus doesn't mean it doesn't exist. Science gets you closer to the truth than an oil exec or politician who profits on oil. And QAnon is that way --->

 

[Mach1E]

For the same reason they issued the statement that exists currently. They are selling them fast now but still have that statement up. By using your logic they would have taken it down months ago. They do it for customer service if you will.

Once again, there will be many buyers and Dealers that are left scratching their heads today. A statement from Ford (with a massive amount of Lawyers) could easily state that the current policy (if Grandfathered like many suggests) will still apply until the end of 2022.

They would not be giving tax advice. They simply would reassure the people that are buying them this week and on what the situation on the ground is to keep confusion down to a minimum.

If the current disclaimer on the Ford website “reassures you,” I feel like we are reading different statements.

All it says is “you may qualify,” then a bunch of disclaimers.

That tells you literally nothing useful.

I could tell you “it may rain today.” I could tell you that every single day and it would be an accurate and useless thing to know.

 

[Mach1E]

am i ineligible for the credit regardless if i'm over the $150K income limit? or does this clause only take effect in 2023?

2023.

How 2022 deliveries will be affected? Still not entirely known, but seems they’re ok.

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