Efforts to extend the Federal Tax Credit

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MelindaV

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#1
A senate bill to extend the EV tax credit (US Federal) 10 years
Sponsored by Merkley (OR), Heinrich (NM), Cortez Masto (NV), co-sponsored by Harris (CA), Smith (MN), Feinstein (CA), Booker (NJ) with a similar bill introduced in the House as well.

https://www.merkley.senate.gov/news...tend-electric-vehicle-tax-credit-for-10-years

The Electric Cars Act would improve this vital tax credit by:
  • Eliminating the per manufacturer cap, allowing consumers access to the tax credit for the next 10 years, regardless of the manufacturer from which they purchase their car.
  • Allowing buyers to use the tax credit over a 5-year period, or apply the credit at the point of sale, making the credit more applicable to those without large tax liability
  • Providing a 10-year extension of tax credits for alternative fuel vehicles and charging infrastructure to incentivize the buildout of this important infrastructure around the country.
 

chojn1

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#3

Azthrillhouse

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#6
They need to fine-tune this better. By the end of the 10-year period this will just be pure profit for Tesla (and others) at the taxpayers expense. If they limited the extension to 3 years and maybe was only applicable to vehicles 30k and under, it would make more sense. I do think removing the cap is a good idea so that Tesla isn’t punished in the market for being the innovator.

Ps I am as tree-hugging liberal as they come.
 

garsh

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#7
They need to fine-tune this better. By the end of the 10-year period this will just be pure profit for Tesla (and others) at the taxpayers expense.
They could always rescind it at some arbitrary point in the future.
 

SalisburySam

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#8
Wouldn’t it be great to get the same tax incentive for the Model Y!
Actually, this is a terrif point. I’m very much looking forward to the Y and a likely replacement for my 3. While I love the 3, which replaced my Nissan LEAF, I’d really like something with more usable storage and better space in the rear for our two 70lb dogs.
 
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#13
Who said anything about not caring? I'm just aware of how bills become law, this is about the same level as a politician saying they want to do something with zero funds/support committed.
 

350VDC

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#14
Not sure if this goes somewhere else but thought we should all support this effort by Tesla and other manufacturers to lobby for the tax credit to be extended and not just limited to 200,000 cars.
https://www.evdrivecoalition.com/
Click on the GET INVOLVED link to add your name to the petition.
 

Curt Renz

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#16
I received this response today from one of my US senators representing Illinois (bolding is mine):

Dear Neighbor,

Thank you for contacting me to share your thoughts on tax credits for electric vehicles (EV). I appreciate you taking the time to make me aware of your concerns on this important matter.

Climate change represents a daunting environmental, economic and national security challenge. We are already experiencing devastating effects in Illinois and across the country as a result of extreme weather events. To promote adoption of innovative clean vehicle technology, Congress established a plug-in EV tax credit in 2008. This credit appears to have contributed to rising sales of plug-in electric vehicles. However, the EV tax credit phases out once a manufacturer sells 200,000 electric vehicles and many leading companies are reaching or have surpassed this mark.

The United States is still transitioning away from traditional gasoline-fueled vehicles to alternative fuel options, including plug-in electric models. Congress should incentivize auto manufacturers to continue making significant investments in the development of plug-in EV technology. Rather than stopping incentives for manufacturers that made bold investments in plug-in technology, we should extend the EV tax credit in a manner that results in greater innovation and enhanced accessibility of plug-in electric vehicles for everyday American consumers. This will strengthen our emerging clean energy economy and reduce harmful emissions.

Thank you again for contacting me on this important issue. If you would like more information on my work in the Senate, please visit my website at www.duckworth.senate.gov. You can access my voting record and see what I am doing to address today’s most important issues. I hope that you will continue to share your views and opinions with me and let me know whenever I may be of assistance to you.


Sincerely,

Tammy Duckworth
United States Senator