This video discusses potential tax credits for Electric and Hydrogen as well as Plug-in Hybrid Vehicles in the United States under the recent Inflation Reduction Act of 2022
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Does the Tesla model 3 Rear wheel drive qualify for anything? I read online that the battery is made in China.
Does it make a difference with the vehicle cost cap any optional features? If I pay up for nicer wheels and a more premium interior and that pushes the sedan price over $55,000, does that disqualify it or is it just based on the base price of that particular model?
This is a preemptively bailout we've all seen in the past. Pricing out the foreign competition and propping up legacy us carmakers. It still baffles me that this trade war turning culture war hasn't hit Ford or GM. Ever gas loving American loves to hate on Tesla but the same hate doesn't go to GM or Ford when they make EVs. And silicone valley may not be like Michigan, but it's still American. They threw Tesla a bone allowing maybe 1 bottom tier car to qualify but it's clear they want to priced incentivize Tesla out. So much for free market. I wouldn't be surprised if Elon slashes prices on their model 3s dual motor cars in response. He loves memes and doing things like that just for the hell of it.
You said that if the car is made in North America it qualifies for $3750 credit. I thought $3750 was contingent on 40% of battery minerals coming from North America or a trading partner and the other $3750 contingent on 50% of battery components being made in North America or trading partner.
I wanna buy a testla model 3 standard range does it qualify for the tax credit and has the bill actually passed
Does the price cap apply to used cars as well?
I have a Model Y on order. It is due in Sept /Oct. 2022. Will I qualify for the tax credit?
A better name would be the: Inflation non-reductiin act and auto-manufacturer bail-out bill
Am I happy with this Democrat plan? If it was the Republicans it wouldn’t exist! And if there were more Democrats in congress this would be simpler and more EV’s including bikes would be included. Vote wisely!
So, it seems that a Tesla 3 delivered in 2023 would qualify for 1/2 the tax credit? Yes? The origin of the batteries is the issue for the full 7500?
Wow, not even a mention of Mini.
Will the buyers having a “written binding contract” to purchase a qualified EV before the Inflation Reduction Act becomes law will be able to get tax credit under the current IRC 30D tax credit??? For example if I make a written agreement with Rivian to buy R1S in future (late 2023 per reservation), will that be qualified under current IRC 30D?
The current EV tax credit was going to expire at the end of the year.
Pretty sure supply is so limited that dealers are just gonna pocket the change
This bill completely revolves around hybrids because of battery size of what qualifies. Congress realized that Ford and GM aren’t going to catch up to Tesla so the figure Ford and GM would be better suited building hybrids to try and undercut Tesla. Thing is just like right now Tesla will continue to grow and customers love their product. If Ford and GM realized why people keep buying Teslas then maybe they would survive the market. They will survive a little bit but ultimately they will get slaughtered by Tesla and all the other companies coming over from China that build EVs. This is a train wreck waiting to happen with Ford and GM.
Hey Aslash.
Is this video still match up with the current bill passed in congress?
We bought a Model 3 back in Sept 2021? Any hope?
If I get a Hundai ioniq 5 this year will I be able to get the credit with existing bill?
More American and North American jobs
Excellent presentation. The confusion is in this complicated legislation. The Nissan Ariya I reserved is out, but thr Ford Lightning pickup XLT I reserved is in, at this time. Clear as mud…
I live with my parents. So does that mean I won't get the credit?
I’ve been trying to find clarification on this. Does everyone qualify for this credit/rebate even if they don’t owe the federal government up to $7,500 in taxes?
Tesla just won again
They're saving the environment by allotting 80 BILLION to the IRS and ignoring the fact that the pentagon is the SINGLE largest polluter in every category, plus they have historically given grants to companies destroying the rain forest, one of the single largest contributors to the oxygen content to the western hemisphere. If reserved a Tesla CT but seriously considering switching the Ocean of they get the new credit.
Hello, I just got my Tesla model Y delivered last week. Will I be eligible for tax credit when I file for the tax returns in 2023? FYI.. I meet all other financial requirements
Would a Toyota Prius Prime qualify?
Do tesla batteries currently meet the requirements for the tax credit?
What about the mini electric?
I mean this is what it looks like to want to ensure that the vehicles that are being sold are actually manufactured here. The reason it's North America is because we have free trade agreements with Canada and Mexico. This should incentivize manufacturers to reevaluate their plans if they want to sell EVs in the United States.
This tax credit also ensures that people of lower income are actually receiving help instead of the previous tax credit which was squarely aimed at people who already made enough money to not need the tax credit.
The new bill has me wondering whether to wait until November/December to order a 2023 Chevy Bolt EUV so that it's delivered in 2023. But if Chevy will raise the MSRP anyway in case the tax credit applies, or if the credit won't apply at all, maybe I should just buy it now…
please note: if a vehicle has anything in it from China, the Congo or any other of the "bad guy" countries it will not qualify under any circumstances. what we don't know is where the mineral inside the batteries comes from and China is the primary source for that stuff. this includes north American made vehicle like the Bolts, Mach e or anything else.
great, clear presentation. it's designed to secure vehicle and battery production in the US. doesn't help consumers a whole lot for right now.
It’s apparent the government has not communicated with the car manufacturers. I can see some of the foreign countries getting back at the U.S. for their vehicles being disqualified for the tax credit.
I am buying a Tesla Model 3 RWD Standard. I’m not sure if it will qualify depending on he 50% rule, what do you think?
There is always the small print that trips everyone up.
So will Tesla model 3 RWD qualify for the credit?
Just curious, how is the Nissan Leaf in if the Ariya is out?
My Tesla M3 standard range is expected to be delivered Oct 20 – Dec 1.
2 of my disqualifiers
Battery being made in China
Vehicle will be picked up before 2023
Is the income limit based on prior years reported income or the current year?
I long for the days gone by of the Build Back Better plan where you'd get $7,500 regardless of where your EV was made AND the money'd come back at the point of purchase. Union-made? Add another $2,500. Domestically made? Tack on another $2,500. No, those last two wouldn't help our beloved Fisker purchase, but governors like ours in Michigan were pushing for additional credits regardless of where your EV was made. I, too, am a glass-half-full guy and I have every faith that EVENTUALLY the credits will become more sane. But for now, yes, this is very frustrating.