SASSquatch
Well-Known Member
- Joined
- Feb 3, 2022
- Threads
- 34
- Messages
- 1,834
- Reaction score
- 3,563
- Location
- Washington DC
- Vehicles
- BMW i3s Ford C-Max Hybrid
- Occupation
- Semi-Autonomous Yeti
The income limit is absolutely stupid and I disagree that it wouldn't change your purchase decision because your income is a function of your cost of living.I guess a lot of people here will be kissing that tax credit goodbye in 2023. Glad I received my Lightning here in 2022 as I think the current rules apply.
On one hand it's a bummer that the income limit is where it is, but on the other hand if you're in the higher income brackets I don't think the tax credit will substantially change a purchase decision, whereas it will matter a lot at the lower incomes. The one caveat is I know that all of us who had been expecting it sort of baked it in mentally, so letting it go may be hard.
If I am making over $300K jointly in podunk pick your city/state USA with low cost of living then I'm golden and missing out on $7500 is likely not a deal breaker.
If I am making over $300K jointly in a major metropolitan area with HIGH cost of living like WMA, NY, CA, that $7,500 makes all the difference in the world. That is why the original $500K limit made more sense - for those of us who are in high cost of living states ESPECIALLY with the insane amount of inflation that is going on.
This is likely a Joe Manchin compromise because his understanding and appreciation for income levels is rooted in his constituents in WV who are likely making close to the US average income of ~65K.
Sponsored
Last edited: