VIDEO: New tax credits sparking interest in electric vehiclesFewer new electric vehicles will qualify for a full $7,500 federal tax credit later this year, and many will get only half that, under rules proposed Friday by the U.S. Treasury Department.
But Sen. Joe Manchin, the West Virginia Democrat who negotiated terms in the new law that require battery sourcing in North America, said the guidance released by the Treasury Department "completely ignores the intent of the Inflation Reduction Act.'' A Treasury official wouldn’t give an estimate of how many EVs would be eligible under the new rules. The department plans to publish a list on April 18, the official said.John Bozzella, CEO of the Alliance for Automotive Innovation, an industry trade group, said only a few of the 91 EV models now for sale in the U.S. likely will get the full credit, although some will qualify for half.
Also, at least 50% of the value of battery parts must be manufactured or assembled in North America this year. That requirement rises to 60% next year and in 2025 and jumps 10% each year until it hits 100% after 2028.
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If someone gave me a EV I wouldn’t take it.
Why do they get a tax credit at all?
That's how you know they're taking our need to get off of fossil fuels seriously 🙄
Oh more political lies. Big bang coming out. Tiny notes when limited. Smh.
FUCKING LIAR
Then why buy electric! They are more then a regular car.
Lol they sell a pipe dream then give you a nightmare
HAA HAA
And who’s paying the rest
Hahahaha
Wait until more and more people have to replace the batteries. Sticker shock! In long run, seems like EV will cost you more and likely more damage to environment for digging up minerals.
Tax credit funded by US citizens. Stop acting like it's free.
Don’t need a federal subsidy to buy EV but need one to get rid of it. Tech is changing so quickly it’s making a purchase a boat anchor.
OK - there is now evidence that cradle to grave an EV is worse for the planet that a current combustion engine car. Now those rebates begin to go away. I hope everyone pays attention as they take your money.
Would this be a move supported by big oil?
Are we surprised?
Lmao, and people still believe the government is here to help them.
First came the carrot now comes the stick
So what you’re saying is President Biden lied yet again when he said taxpayers making less than $400k will not pay more in taxes.
The ole’ bait and switch. This administration is nothing but grifters for their puppeteers at the cost of the people.
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