Elon wants your help! IRS invites consumers to comment on EV tax credit qualifications

[Crissa]

Why on Earth do we need to incentivise those in the top 10%? I ask, as a member of that group, why I should be getting gov money for something I can already afford.

Because we want them to buy cars which result in less pollution and CO2 in the atmosphere so we have better health and a longer civilization?

-Crissa

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[WildhavenMI]

Because we want them to buy cars which result in less pollution and CO2 in the atmosphere so we have better health and a longer civilization?

-Crissa

They don't need the financial incentive, nor do I honestly believe a financial incentive of that size would be sufficient to encourage a switch to EV/PHEV amongst that group if they're not already thinking that way.

Granted, this is opinion, and I'm always open to be changed by facts, but IMO its the bottom 50% of income earners that need the credit, not the top.

 

[CyberGus]

They don't need the financial incentive, nor do I honestly believe a financial incentive of that size would be sufficient to encourage a switch to EV/PHEV amongst that group if they're not already thinking that way.

Granted, this is opinion, and I'm always open to be changed by facts, but IMO its the bottom 50% of income earners that need the credit, not the top.

The bottom 50% of income earners in the US should not own cars, with an average annual income of less than $30k.

That said, I will take any available incentives, but they do not impact my purchasing decision.

 

[Bill906]

They don't need the financial incentive, nor do I honestly believe a financial incentive of that size would be sufficient to encourage a switch to EV/PHEV amongst that group if they're not already thinking that way.

Granted, this is opinion, and I'm always open to be changed by facts, but IMO its the bottom 50% of income earners that need the credit, not the top.

Is the purpose of the incentive to get more people to buy low emissions vehicles? or is it to subsidize poor people?

If its purpose is to subsidize the poor, I think there are better ways of doing that.

 

[Zabhawkin]

The bottom 50% of income earners in the US should not own cars, with an average annual income of less than $30k.

That said, I will take any available incentives, but they do not impact my purchasing decision.

I have commented before about the solar tax credit, and now the EV tax credit. It doesn't actually help the people who could use the help. My wife and I are probably among the lowest income people on this forum, but we didn't need the help when we could finally afford solar, and when we couldn't we didn't qualify anyways. We needed enough income to have a high enough tax burden to qualify and by then we didn't really need it.

Same with this credit, it mostly helps those who don't really need it.

 

[cvalue13]

It’s a modest buyer-side incentive for ~middle-income people to consider ~middle-market EVs with battery tech from ~North America, and simultaneously to incentivize manufacturers to make more ~affordable EVs with battery tech from ~North America.

Conversely, someone appears to have felt that upper-income people needed no additional incentive to purchase luxury EVs. Seems defensible.

Used vehicle incentives touch other parts of the market.

Further parts of the market will be touched when in 2024 these all convert from tax credits to point of sale price reductions.

 

[android04]

Looks like Tesla decided to cut the prices of Model Y in the US to below $55k, so now it qualifies for the incentive!

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