I suppose that depends on who runs the system.
Does each state get their own pool of funds to run their programs as they see fit within a set of guidelines (preferable as there are stark differences in COL between states) or is it totally centralized and run by the feds?
It will be federalā¦ theyāre trying to make the credit refundable so definitely will be tied to tax return.
Not necessarily, unless you think they will just vote down any amendment made by an R out of spite, which is possible, but weāve seen amendments that make sense pass. Plus, if an amendment is especially reasonable, the politicians can easily take it back home and say āsee, look, my opponent voted against helping to prevent fraud on a massive handoutā.
This being said, I admit Iām a hypocrite on this whole issue.
I donāt think there should be any credit at all, if these carās donāt sell without subsidy, then they arenāt what the market demands at this time.
Clearly Tesla doesnāt need subsidies to sell cars. The i3 might, however. I have one, I love it, but I donāt think Iād pay $200/mo more for it, which is what it would be without the 7.5k credit. I donāt think itās the responsibility of the government to make a BMW sale-able.
The hypocrisy comes in because I still will use and take advantage of this credit because I see it as a rare opportunity to get some of my wasted tax money back.
The best way to incetivize ev is to tax gas )
No hypocrisy here. Of course one should use any available benefits, even if one doesnāt think those benefits are for greater goods.
EV tax credits are pork to auto lobby on the taxpayer behalf.
Nah, itās hypocrisy, Iām just admitting it. The principled thing to do would be to not use the credit or get a car that uses it, but like I said, Iām not going out of my way to avoid it if itās available on a car I want.
I do not see why. The credit is a hand out to autolobby, allowing them to raise prices. If you do not claim it, you ended up sponsoring autolobby, instead of the goverment.
Expect Tesla to wedge the MSRP of the car right into the price line for Performance. Theyāre doing everything to incentivize people to buy them.
w/r/t a possible 80K cap, Iām more interested in what Rivian will do. Both the R1T and R1S can be easily equipped over $80K.
Trueā¦ but this is clearly just an effort to dramatically reduce the number of EVs eligible for the subsidy. Fraud may be a concern but not for leased vehicles. Is there really a concern VW finance is submitting fake ID4 VINs for reinforcement. Not so much
I bet theyāre trying to stop people that leased the vehicles from also claiming the tax credit. Probably means they donāt currently validate against registrations for purchase history unless thereās an audit.
I would be surprised if there is no significant number of leasees claiming credit. Some by mistake, some intentionally.
Feds currently can not verify purchases, as there is no federal form dealers fill on EV sales.
Iāve heard of a lot of dealers that have instructed lessees that they need to apply for it too.
Just as I would expect.
Wooooooof!
There were 16,510 such claims. The IRS went back and got the VINs and asked everyone to refile without the duplicate.
To be precise, from this article it is not clear if IRS actually did sent those notices. It is dated Oct 19, and in couple of months EV credits probably became less than pressing matters.
The whole credit thing is getting out of hand, for example who in their right mind would buy a Nissan Leaf for 40k. The bigger the incentives the more manufacturers and dealers will raise prices. Use the money to build charging stations and let manufacturers perfect the product so the consumer can decide whether or not evās is worth it for them.
But if that is the issue the law doesnāt matter. Anyone who wants can just figure out an EV VIN and submit for the 7500 dollar tax credit.
I believe that was one of the suggested amendments, not the final bill, which as far as I know still doesnāt even exist.