Posted on Apr 1, 2023
The $7,500 tax credit to buy an electric car is about to change yet again
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https://www.npr.org/2023/03/31/ [login to see] /electric-vehicles-cars-tax-credit-climate-bill
A tax credit of up to $7,500 to buy an electric car is about to undergo a major change — again.
The Inflation Reduction Act, a major climate law passed last summer, dramatically reworked an existing tax credit for electric vehicle purchases. The credits are intended to make electric vehicles cheaper, and hence more appealing, part of the administration's plan to fight climate change.
But the complex rules are also designed to incentivize U.S.-based production, to build up a domestic clean-vehicle supply chain and reduce reliance on China.
A tax credit of up to $7,500 to buy an electric car is about to undergo a major change — again.
The Inflation Reduction Act, a major climate law passed last summer, dramatically reworked an existing tax credit for electric vehicle purchases. The credits are intended to make electric vehicles cheaper, and hence more appealing, part of the administration's plan to fight climate change.
But the complex rules are also designed to incentivize U.S.-based production, to build up a domestic clean-vehicle supply chain and reduce reliance on China.
The $7,500 tax credit to buy an electric car is about to change yet again
Posted from npr.org
Cars
Taxes
Posted >1 y ago
Responses: 4
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PO1 William "Chip" Nagel good day Brother William, always informational and of the most interesting. Thanks for sharing, have a blessed day!
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Once the fuel taxes go down, they'll be odometer Nazis going after and checking to see what your digital readout shows because governments can't tax you based on your fuel consumption if the Church of the green New Deal forces everybody to go to electric cars so now you'll have people changing the odometer to pay less money to the odometer Nazis.
Germany is contesting the EU desire to get rid of the internal combustion engine by 2035 so but maybe some headwinds especially in 2024 if President Biden is no longer around.
I foresee that 25% of the cars being electrified will take down the power grid as we know it.
Cpl Vic Burk
Germany is contesting the EU desire to get rid of the internal combustion engine by 2035 so but maybe some headwinds especially in 2024 if President Biden is no longer around.
I foresee that 25% of the cars being electrified will take down the power grid as we know it.
Cpl Vic Burk
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Cpl Vic Burk
LTC (Join to see) I could see electric cars overloading the power grid. In California it is already happening where they are telling people not to charge their cars during some hours. What are you supposed to do if you need it to go to work? Call an uber that runs on gas!
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PO1 William "Chip" Nagel That tax credit isn't squat considering the price of electric vehicles. Here in Tennessee, they are talking about tripling the cost of annual registration of electric vehicles to offset what they are not getting in gas tax.
https://www.msn.com/en-us/news/us/tennessee-considers-tripling-fee-for-owning-electric-vehicles/ar-AA14Y79T
https://www.msn.com/en-us/news/us/tennessee-considers-tripling-fee-for-owning-electric-vehicles/ar-AA14Y79T
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