[kumbaya]

Anyone read about this recently? See a lot of people saying that its not likely to pass the house, but recently passed the Senate.

US Senate puts $40,000 cap on price of electric cars that qualify for EV tax credit ahead of reform

The US Senate has voted to approve a non-binding resolution setting a $40,000 threshold on the price of electric cars that would be eligible for a $7,500 federal tax credit. However, the measure has just passed as the Democrats are working to reform the EV incentive program. As part of the new...

electrek.co

The US Senate has voted to approve a non-binding resolution setting a $40,000 threshold on the price of electric cars that would be eligible for a $7,500 federal tax credit.
However, the measure has just passed as the Democrats are working to reform the EV incentive program.

As part of the new federal budget, the US Senate approved an amendment introduced by Senator Deb Fischer (R-NE) to introduce a limit on the price of electric cars eligible to the $7,500 federal tax credit.
Only electric cars that cost less than $40,000 would be eligible.
Additionally, only buyers with an income of less than $100,000 would be able to apply for the tax credit.
Fischer claimed that the incentive was primarily just a tax break for wealthy Americans buying electric vehicles:

https://twitter.com/i/web/status/1425263526281719810

this will be my first car purchase ever and i thought i was being responsible by waiting until i made a decent amount of money before buying any car. i dont feel "wealthy" at all really lol i have never had a car and have student loan debt like many americans making this much. the ev tax credit was definitely one of the reasons my spouse and i decided this would be our first car. we are very sustainably minded, but otherwise without the car we would prob just continue riding our bikes and walking every where lol. its a shame bc jeep fits our lifestyle so we dont have to rent/borrow a car from family when we need it

does any know if this would apply to vehicles purchased this year if it (strangely) passes the house as well? i think this also means that all the trucks biden showcased now do not qualify at all haha

 

[Archnemysis]

I highly doubt this will pass the House. While things like this don’t normally break down on partisan lines, the outcome of this vote is pretty telling. All D’s but two were against and all R’s but one were in favor. (If I remember the #’s right). If that is the same breakdown on the House side it is going nowhere.

EDIT: I remembered slightly wrong, it was three D’s. Sinema, Kelly and Manchin.

 

[Louisville_Jeep_Dude83]

From what I’ve read, the current incentive program runs through 2023, so even if this does pass in the final bill approved by both chambers, it wouldn’t take effect until January 1, 2024.