Manchin says expanded EV tax credit is dead

[mkg3]

Makes no senes to keep $7,500 tax credit for ANY EVs.

Just how long are we all waiting for our EV? The demand is such that there is a backlog at every brand. New models sell out in minutes.

If the demonstrated demand doesn't warrant investment in EV by mfg, tax credit certainly does not. In fact UK just removed their incentive all together.

Stop the handout by the government for those who can spend $70k+ for EVs.

The only incentive should be income based for EV, not quantity sold. Those with lower income AGI (say less than $100k for joint and 70K for individual) should be the only ones that qualify....

We're all paying for the $7,500 tax credit one way or another.

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[OverZealous]

An idea I had before was to try to use the incentive to drive vehicle prices down. At first, keep the $7500 without a price cap, or make it a reasonably high cap based on vehicle type.

Then, over time, reduce the price cap. So this year, just as an example, maybe it'll be $100k cap for trucks and SUVs, to make sure we encourage people to switch those vehicles over.

Then next year, the cap is $90k. Then each year, we reduce the price cap by some reasonable amount ($5k or $10k per year). This encourages companies to focus on getting the cost of vehicles down over time, so more people can afford them.

At the same time, price caps must also be tied to vehicle capabilities (specifically range). This is more important as the price cap is reduced—we don't want manufacturers to just throw out nearly useless compliance cars with <200 miles of range just to get a rebate. Maybe also link it to other aspects, like DC charging speed and compatibility.

IMO, everyone deserves a chance to get into a decent quality EV with good-range. Just because some of us have the means to buy luxury-priced EVs doesn't mean that should be considered success.

 

[nc10]

Basically, Manchin got the extra $4500 tax rebate removed from the new version of the Build Back Better bill.

I'm ok with this, mfr's can sell every EV they make at this point, I expect Tesla is very profitable, others will be soon with economies of scale. Other parts of the supply chain are doing really well (see Li miners, for example), supply chain will be volatile, but hopefully no price "crashes" as the market develops.

Kinda reminds of vaccines when the first became available. I expect there will be a point where incentives will make a difference. Maybe focus now even more on EV supply chain, making more EV's availalble, charging at home and on the road easier/cheaper, and not letting the choice become part of a political platform.

But I'm certainly not going to complain if the tax credits are maintained and expanded above 200k/mfr.

 

[mgc0216]

Manchin is one of the best in the Senate... Votes his conscience and not party line.... My guess is those that do not like him want him to vote with his party and not with his brain

Getting dangerously close to the "no politics" line here.

 

[Count Orlok]

I guess union is okay for cars built in Italy but not for American workers. Too bad Maserati isn't building a mass market EV...

 

[Arky]

Wondering if I should change my R1 config to get in before they yank the ladder up on the credit. Anyone know how close this is to passing something I haven't seen barely any detail.

 

[Gator42]

Getting dangerously close to the "no politics" line here.

…but ‘asshat’ was a-okay two pages of comments a go…

…now that we all know know where the line is…

 

[nc10]

Wondering if I should change my R1 config to get in before they yank the ladder up on the credit.

The $7500 credit doesn’t seem to be at risk.

 

[DuckTruck]

Everyone loves the subsidies they love and hate paying for the subsidies they hate. Forced cross-subsidies are the right answer to absolutely no question ever.

Was this perhaps Yogi Berra looking into the future, back in the day? That guy was/is a visionary!

 

[crashmtb]

While I am a fan of my Union, I didn't feel good about that part either, even though it could have applied to any of the car factories in the South where they have right to work (for less) laws.

The UAW exists now to benefit the UAW, not its workers. Rotten.

 

[Arky]

The $7500 credit doesn’t seem to be at risk.

My understanding was they could be changing it to means-test or limit the price of vehicles.

Don't get me wrong, it makes much more sense for them to do it that way given the state of the market, it's just going to be a bit of a slap if they decide to quit handing out money right before I could get a piece of it

 

[nc10]

My understanding was they could be changing it to means-test or limit the price of vehicles.

Ok, I hadn't noticed that was part of current discussions, remember it some from last year.

 

[SecretService]

Ok, I hadn't noticed that was part of current discussions, remember it some from last year.

i heard that none of the rivians Qualified for the tax credit because the verbiage said the new vehicle had to be purchased at a dealership and since rivian has no dealerships, like Tesla, none would qualify. Maybe this is just a texas thing? Anyone able to clarify?

 

[emoore]

i heard that none of the rivians Qualified for the tax credit because the verbiage said the new vehicle had to be purchased at a dealership and since rivian has no dealerships, like Tesla, none would qualify. Maybe this is just a texas thing? Anyone able to clarify?

They qualify for the federal tax credit because they have sold less than 200k vehicles. Nothing to do with having a dealership or not.

 

[pc500]

Good. Because the new one had income limits.

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