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Did anyone else see this? If I read this correctly, the 4xe doesn’t qualify for the 7500 tax credit anymore. There is a lot of unanswered questions like when does it go into effect?
4xE doesn’t qualify for tax credit anymore?
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335 Posts
Ouch! Thanks for posting this. I had not seen that portion of the proposed budget changes. I thought about just copy-pasting the EV tax credit section for easy reading, but it's actually a well done article that should be read entirely imo.
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This is a non-binding resolution.
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As @Bren mentioned, "non-binding amendment".
Senate Backs Limiting EV Tax Credits (9:52 p.m.)
The Senate voted 51-48 for a non-binding amendment to the budget resolution aimed at limiting who can get a tax break for buying an electric car or truck and which vehicles qualify, potentially shaping the coming debate as Democrats prepare to expand the tax credit.
Republican Senator Deb Fischer of Nebraska proposed prohibiting people making more than $100,000 a year from claiming EV tax credits and to end tax credits for EVs that cost more than $40,000 -- levels that would exclude many of the electric vehicles on the market or planned to come to the market in the next few years, including those promoted by President Joe Biden recently at the White House.
Senator Debbie Stabenow of Michigan argued vociferously against the amendment, calling it “anti-pickup truck.” But three Democrats voted for it -- Joe Manchin of West Virginia, Mark Kelly of Arizona and Kyrsten Sinema of Arizona.
One Republican opposed the amendment -- Marsha Blackburn of Tennessee, a state that includes plants making EVs and batteries. -- Steven T. Dennis, Sophia Cai, Jennifer Dlouhy and Ari Natter
Senate Backs Limiting EV Tax Credits (9:52 p.m.)
The Senate voted 51-48 for a non-binding amendment to the budget resolution aimed at limiting who can get a tax break for buying an electric car or truck and which vehicles qualify, potentially shaping the coming debate as Democrats prepare to expand the tax credit.
Republican Senator Deb Fischer of Nebraska proposed prohibiting people making more than $100,000 a year from claiming EV tax credits and to end tax credits for EVs that cost more than $40,000 -- levels that would exclude many of the electric vehicles on the market or planned to come to the market in the next few years, including those promoted by President Joe Biden recently at the White House.
Senator Debbie Stabenow of Michigan argued vociferously against the amendment, calling it “anti-pickup truck.” But three Democrats voted for it -- Joe Manchin of West Virginia, Mark Kelly of Arizona and Kyrsten Sinema of Arizona.
One Republican opposed the amendment -- Marsha Blackburn of Tennessee, a state that includes plants making EVs and batteries. -- Steven T. Dennis, Sophia Cai, Jennifer Dlouhy and Ari Natter
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97 Posts
They have not passed it and it still qualifies for $1000 charge port install.
www.chargepoint.com
How to Get Money for EVs and Charging | ChargePoint
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60 Posts
Even if it passes, it wouldnt be immediate. None of these bills are. But it's certainly concerning. There are no reasonable EVs under $40k, and putting income limits on them does nothing for selling them. If your goal is to reduce emissions, why does it matter who is reducing them?
It's also not going to happen by selling more $60K Jeeps. A tax credit doesn't help someone who can't pay their bills today, or who cannot get approved for such a large loan in the first place. Getting reliable, safe, simple, and functional EVs into the hands of people who can't afford a nearly-new Civic today will have a massive impact on those goals. Focusing on fleet vehicles will also help. I think Ford is hitting the nail on the head with the new Maverick and F150 Lightning. Other manufacturers will be compelled to follow suit.
The best way to get EVs on the road is through the secondary market. These cars straight up cost more to make…so it’s not an easy equation to solve for.
We enjoy our small credit, but even 7500 cheaper isn’t going to put a dent in $70k cars… and all it’s really doing for Jeep is allowing them to over price the regular Rubi so we “think” we are getting a steal w/4xE… same spec V6 Rubi sticker is 63k… really… it’s the same Jeep as the last 5 years.
Look at the prices of a used i3, very reasonable compared to new @55k. For this to work most of the EV pickups need to be purchased as complete business/fleet write offs and sold a few years later to the average Joe, then and only then will there be vehicles avail for everyone.
The market really needs to get these 6000 lbs EVs pickups out before end of 2022 when the 100% write off credit expires.
We enjoy our small credit, but even 7500 cheaper isn’t going to put a dent in $70k cars… and all it’s really doing for Jeep is allowing them to over price the regular Rubi so we “think” we are getting a steal w/4xE… same spec V6 Rubi sticker is 63k… really… it’s the same Jeep as the last 5 years.
Look at the prices of a used i3, very reasonable compared to new @55k. For this to work most of the EV pickups need to be purchased as complete business/fleet write offs and sold a few years later to the average Joe, then and only then will there be vehicles avail for everyone.
The market really needs to get these 6000 lbs EVs pickups out before end of 2022 when the 100% write off credit expires.
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31 Posts
The timing of this is ridiculous considering the introduction of the Clean Energy for America Act that has yet to be voted on. The house still has to approve this resolution where it will likely fail but regardless, Congress just looks like it’s running around with zero cohesive direction right now.
I mean, I’d rather not limit it, but if they do… at least $150k to start with limiting.
I have quite a few family members with what would be considered an average middle class income…it would take a $25k+ credit to get most of them to spring for a new $65k EV. If they started to offer a smaller maybe $3500 credit to used EVs… that’s something to talk about.
By limiting the income basis for the tax credit for a new $50k+ car the government is once again luring people to over extend and spend 50-100% of their annual income on a luxury item. IMO lure the wealthy to buy new and take the immediate depreciation and in a few years the market will have plenty of used EVs around to buy. Even a used model 3 is $40k because there just arnt that many of them… we just need more used EVs, no matter the brand.
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115 Posts
I agree... without getting into PARTISAN politics, ANY politician wants a "verifiable outcome of success" for their agenda. Biden has made it clear that he wants 50% EV by 2030... In order to reach that goal, it will not be the accomplished solely by EV's under that $40k pricepoint or whatever it is... and that is A-OK with him, I am sure. In order to reach those kinds of numbers, there will have to be more expensive vehicles (and their buyers) in the mix. So, I would expect this to be reworked in later legislation to best fit with accomplishing the agenda.
That's just my take. I have degrees in politics, finance and law... so at least my viewpoint has some experience to back up the claim?
I love restoring and restomod'ing old cars and repowering older and classic cars with EV drivetrains would be another great way to get there. There are companies already working towards this (EV West, and a few that are making SBC/LS adapters). If legislation is the door opener, then write legislation that defines some safety standards for these conversions (electrical shutoffs, monitoring, battery failure containment, etc) and clears up some of the rules around EPA and CARB compliance so owners know their car will not fail inspections in any state. If you could convert a 20 year old Suburban, F150, or Odyssey to a modest-range EV for less than $10K and offer subsidies for that for those in need, you fulfill a big need without forcing people from their pickup into a cyber truck. These are transitional times for sure.
this would be very cool… just don’t ask me if I have an airbag
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149 Posts
their website doesnt list 4XEThey have not passed it and it still qualifies for $1000 charge port install.
How to Get Money for EVs and Charging | ChargePoint
. can anyone confirm if this actually works with 4XE? or should we just stick to MOPAR?1 - 20 of 28 Posts
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