The Federal EV Tax Credit And You — CleanTechnica Explains It All
Tesla should pass the 200,000 sales mark soon. What happens to the federal electric car tax credit after that? Here’s what we know as of this moment.
Tesla should pass the 200,000 sales mark soon. What happens to the federal electric car tax credit after that? Here’s what we know as of this moment.
The interweb was on fire on Monday July 2 about the possibility that Tesla actually delivered its 200,000th EV in the US in June. US Model 3 reservation holders freaked out and Tesla haters and shorters saw it as another sign that the end of the Tesla was near.
It’s hard to tell exactly what GM CEO Mary Barra actually intends with regard to Chevy Bolt EV sales. Is GM actually trying to sell the model in high numbers? If that’s the case, then why is advertising non-existent, and why aren’t dealers pushing the models?
It’s pretty common nowadays to hear the claim that the only reason that Tesla, or SpaceX, or any of Elon Musk’s other ventures exists is because of government subsidies. I’ve myself heard the claim quite a lot over just the last few weeks. The funny thing: I haven’t heard any specifics from those making these claims about how they are “subsidized.” The general consensus when pressed seems to be: “Well, that’s what I heard (and I don’t like him).”
The survival of the federal electric vehicle (EV) tax credit is a good thing for the US auto industry and consumers, but a huge flaw in its design will give EV laggard automakers a significant competitive advantage beginning around 2020.
Those sounds you heard a few days ago were a collective sigh of relief from many automakers and electric vehicle advocates when the US Congress passed new tax legislation that also kept the federal electric vehicle tax credit intact — a tax credit of up to $7,500 for any US taxpayers who buy a new electric vehicle*.
The United States Congress hasn’t yet passed a tax heist reform bill. However, word on the street is that it’s very close. Regarding clean energy tax credits and electric vehicle tax credits that were eliminated in previous versions of the bill, the rumors are that they are no longer going to be eliminated.
Whether or not the US Congress ends the tax credit for electric vehicles on December 31, 2017, it won’t be a disaster for sales of electric cars in the US in 2018 and beyond. More on that in minute.
Kill it? Save it? Why not improve it?
Electric vehicle advocates caught a glimmer of hope in the US last week when it was reported on November 9 that the Senate version of a revised tax plan would keep the federal EV tax credit intact.
The House of Representatives tax plan released previously, however, would end the federal EV tax credit.
Republicans in Congress want to repeal the federal electric car tax credit. What are the implications?