Zoidz
Well-Known Member
Biden was in favor of income limits on the EV tax credit. During Biden's campaign, I read on his **campaign web site** that he was in favor of a phased reduction of the EV tax credit as income increased. I don't remember the specifics, but I think the reduction kicked in at $150k and if you were above $270k, there was no EV tax credit at all.
HIs campaign web site is obviously taken down. I can't find any reference to this phased plan anywhere. None of the current legislation mentions it either. Personally, I think that if Biden wants to promote and accelerate the transition to EV, it should be part of a formal national energy policy, and should not have any income limits at all.
Here's the "Green Act of 2021" (don't confuse with "Green New Deal") which discusses the tax credit. It also resets the rebate on alternate energy projects (i.e. home solar) to 30% for a few years-
Here's the "Electric CARS Act of 2021" - Cars is an acronym for "Credit Access Ready at Sale". Among other things, it allows assigning the tax credit to the Lessor. https://www.merkley.senate.gov/imo/media/doc/21.02.23 Electric Cars 2021.pdf
HIs campaign web site is obviously taken down. I can't find any reference to this phased plan anywhere. None of the current legislation mentions it either. Personally, I think that if Biden wants to promote and accelerate the transition to EV, it should be part of a formal national energy policy, and should not have any income limits at all.
Here's the "Green Act of 2021" (don't confuse with "Green New Deal") which discusses the tax credit. It also resets the rebate on alternate energy projects (i.e. home solar) to 30% for a few years-
Here's the "Electric CARS Act of 2021" - Cars is an acronym for "Credit Access Ready at Sale". Among other things, it allows assigning the tax credit to the Lessor. https://www.merkley.senate.gov/imo/media/doc/21.02.23 Electric Cars 2021.pdf
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