Earliest Cybertrucks may get federal tax credit (400k more Teslas will qualify under GREEN Act)

[Dids]

The Ford Execs are already calling Washington, screaming NOOOOOOOOOOOOO!!!!!!!!!!!!!!!!!!!!!!!!!!!!

BUUUUTTTTT our Mustangs,

On the same day, no less, that our battery supply is boinked!

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[jlatino]

I'm at the tail end of 200K due 10/23/2023. I'm good!

 

[MEDICALJMP]

Looks like Tesla is getting another 400,000 vehicles worth of tax credits:
https://www.google.com/amp/s/electr...credit-electric-cars-us-incentive-reform/amp/

It doesn't seem like anybody but the very first few cybertrucks would even be eligible based on the 2020 numbers though. Maybe they can expand it further since it seems to only effect one EV manufacturer compared to the others.

Why is everybody acting like this is a done deal?

This is proposed legislation. It still has to go through committee, then it has to be voted by the full House and a similar senate bill must be put through. Then if the senate passes it the Senate bill need to be reconciled with the house version. Then it must go to the president for signature. None of this is set in stone. We have a divided Senate and so far this year I’ve seen nothing to say that the Republicans and the Democrats are going to play nice with each other. All you have to do is turn on C-SPAN over the last two days to get an idea of what’s going to be going on. Don’t be counting your rebates or tax incentives before they are hatched.

Plan on paying full retail. If you get an incentive then feel lucky.

 

[Coolbreeze704]

IF Tesla hits 2021 production goals there will be well over 400k deliveries from Freemont so by 2022 the 400k additional, if passed will be gone. I am estimated to be 13,420 inline with my dual motor and reservation is 40,342 overall. Estimated delivery is Aug 2022.

I know world wide they hit just under 500k sales in 2020, but how many new registrations in US for 2020? What is the projected 2021 US sales?

 

[Tinker71]

Looks like Tesla is getting another 400,000 vehicles worth of tax credits:
https://www.google.com/amp/s/electr...credit-electric-cars-us-incentive-reform/amp/

It doesn't seem like anybody but the very first few cybertrucks would even be eligible based on the 2020 numbers though. Maybe they can expand it further since it seems to only effect one EV manufacturer compared to the others.

I don't see applying to very many Cybertrucks. If passed in the first quarter, Tesla could most likely manufacture 400,000 S3XYs before February of next year.

Also people made their reservations based on not having an incentive.

 

[BillyGee]

Why is everybody acting like this is a done deal?

Plan on paying full retail. If you get an incentive then feel lucky.

Honestly, I'm being optimistic. If anything I'm hoping it does take a while and goes into effect just in time for my CT delivery.

 

[Hootie]

If this passes, do ya'll think it may be worth buying a Model Y. take advantage of the credit. And since the car holds value and depreciates less than a ICE vehicle, trade it in for the CT once available. Thoughts on if this makes sense in the long run to take advantage and have fun with a model Y in the meantime?

 

[Crissa]

If this passes, do ya'll think it may be worth buying a Model Y. take advantage of the credit. And since the car holds value and depreciates less than a ICE vehicle, trade it in for the CT once available.

...And it gets another BEV on the used market. Win-win, if you ask me. A public-private partnership I can get behind.

I wouldn't have my Zero if someone hadn't bought it first.

-Crissa

 

[DarinCT]

When you file your taxes you get to claim it as a deduction.

@Error In the previous round, it was a tax credit. This met resistance because it created an income requirement. In 2017, the TCJA (Tax Cuts and Jobs Act) changed each person's tax profile. In other words, the current GREEN Act may be a rebate instead of credit or some other repayment not connected to taxes. (Edit: me being stupid)

Although the article had a link to the bill's text, this is what Congress says about the bill so far:

***

Text: H.R.848 — 117th Congress (2021-2022)All Information (Except Text)
As of 02/12/2021 text has not been received for H.R.848 - To amend the Internal Revenue Code of 1986 to provide incentives for renewable energy and energy efficiency, and for other purposes.

Bills are generally sent to the Library of Congress from GPO, the Government Publishing Office, a day or two after they are introduced on the floor of the House or Senate. Delays can occur when there are a large number of bills to prepare or when a very large bill has to be printed.

***

I would be surprised if it was a tax credit this time around but like @MEDICALJMP has said, it isn't law yet. Hell, it isn't even in committee yet.

 

[happy intruder]

That's what I'm thinking. Maybe they'll drag their feet implementing it and I'll get it for my CT, assuming they go on reservation order I'm at ~8000, ~2700 for my trim. Maybe I'll get lucky.

like to go to factory for pick up.......hope for the tax credit.....unless you have more than 24,800 in deductions, you have to file the SR

 

[ScoobyDoo]

Something I have pondered as a new style of EV incentive that, at least as a brief thought experiment could potentially make a larger impact on CO2 "relative to just a general tax incentive":

Make the Tax incentive relevant to trucks and truck owners/operators. In other words, if you buy an EV truck to replace your ICE pickup. But there would have to be rules that you have to have owned and operated your pickup for several years to prevent people from buying a brand new pickup to immediately sell it and buy an electric truck just to get the incentive.

That way you are directly replacing an ICE pickup with an electric pickup. Instead of someone replacing their old tesla, hybrid, efficient sedan etc... I realize that ICE pickup would then be on the used market and most likely not removed entirely from the road. However buying a used car is better than buying a brand new one.

I also realize this is a self serving idea considering I drive an F150 ;-).
Just saying, if reducing CO2 emissions is a goal of the legislation, and trucks produce the most..... make that deal as sweet as possible for people currently driving trucks.
Just a thought, maybe I'm wrong.

 

[MEDICALJMP]

This has been tried in various forms. If you own an old gas hog/polluter and buy this new, shiny toy you get a tax credit. What a good number invariably do is buy a cheap POS from a friend, Craig's List or off the street. You then hold said POS for whatever the time period the OWN TIME requirement and then turn it in and get the credit. Nothing was really accomplished to remove a junker from the streets.

But you said, "OWN and OPERATE" for x time. How are you going to monitor operation? Any grease monkey worth his salt can alter an odometer forward. These social engineering games end up costing way more than projected and the benefit is nothing like the authors expect.

 

[Crissa]

But you said, "OWN and OPERATE" for x time. How are you going to monitor operation? And grease monkey worth his salt can alter an odometer forward.

Well, maintain registration for one. For two, not commit a felony.

-Crissa

 

[MEDICALJMP]

Well, maintain registration for one. For two, not commit a felony.

-Crissa

No way to prove it if you don't tell anyone, 'i.e., post your felonious practices on social media.

 

[ScoobyDoo]

This has been tried in various forms. If you own an old gas hog/polluter and buy this new, shiny toy you get a tax credit. What a good number invariably do is buy a cheap POS from a friend, Craig's List or off the street. You then hold said POS for whatever the time period the OWN TIME requirement and then turn it in and get the credit. Nothing was really accomplished to remove a junker from the streets.

But you said, "OWN and OPERATE" for x time. How are you going to monitor operation? Any grease monkey worth his salt can alter an odometer forward. These social engineering games end up costing way more than projected and the benefit is nothing like the authors expect.

I was thinking along the lines of what Crissa said. Vehicle had to be registered in your name and maintained registration for say 5yrs. Maintaining that registration would take a serious hit on that incentive. I don't know what it is to registered a 1/2 ton in other states but in CA is around $400+ a year, now throw insurance on top of that and the incentive is pretty much gone (if you're trying to cheat the system). Also if its only 400k (trucks in this case), and the wait is 5yrs ownership wise, I'd assume that all of those 400K spots would be used up long before the 5 year mark. But this is just a hypothetical I was thinking of, maybe I'm wrong.