engnrng
Well-Known Member
- First Name
- Bruce
- Joined
- Feb 8, 2020
- Threads
- 9
- Messages
- 553
- Reaction score
- 795
- Location
- SoCal
- Vehicles
- 2022 GTPE, Kona EV, 2023 BMW iX
- Occupation
- Engineer
Actually, Patrick, the Biden/Harris platform and speeches say somewhat otherwise. No laws or budgets have been passed yet, true. However, a significant increase in business tax rates, 50% increase in long term cap gains taxes, and a small increase in the highest tax bracket are all looking pretty likely, although not clear when those proposals will pass nor when they might take effect. The programs that are already being debated include $2Trillion to $4Trillion infrastructure repairs (much is badly needed with bridges falling down), and the BidenCare program already talked about, though few details yet. I do not want to have discussion here about such politics (although I just did that, didn't I?), my main purpose was inquiry about any changes to the EV Tax Credit. I have seen one proposal by President-Elect Biden that he wants to not limit the credit to tax liability or $7500, whichever is less. He actually wants to provide a $7500 benefit regardless of actual tax due, and not limit to first 200,000 cars by a manufacturer. I think that those would be great changes. But so far, the other responses today (Thank you for your thoughts!) indicate there has been no talk of phasing out the EV Tax Credit with income. Yet! And, my wife has been a tax CPA for nearly 40 years and I have asked her the same questions. She has not heard anything yet either, but I know several people here are quite good at finding interesting details!There is nothing to "hear." No proposals have been made. No budgets have been submitted. No "costly programs" have been planned. No notices given.
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