Manchin-Schumer EV Tax Credit Disqualifies Almost All Existing Electric Vehicles: Automakers – IOTW Report

Manchin-Schumer EV Tax Credit Disqualifies Almost All Existing Electric Vehicles: Automakers

JTN:

Electric vehicle manufacturers say a proposal to extend tax breaks to purchasers of electric vehicles would not include most of the models currently on the market.

A budget reconciliation package, which Senate Majority Leader Chuck Schumer and West Virginia Democratic Sen. Joe Manchin announced in late July, includes a proposal to extend a $7,500 tax credit toward the purchase of an electric vehicle. The bill may receive a Senate vote as early as Saturday.

Manufacturers of electric cars argue, however, that sourcing requirements in the bill to make an EV eligible for the credit are so strict as to exclude nearly all of the existing models, the Wall Street Journal reported Thursday. The bill further aims to encourage domestic EV production by requiring the domestic acquisition of key components in order to get the subsidy.

Only EVs manufactured in the U.S. will be eligible for the tax credit. Moreover, it places strict regulations on the car’s battery material sourcing to make the entire car qualify. The WSJ pointed out that almost any EV with battery parts from China would be excluded.

Certain Tesla, General Motors, and Toyota models would again become eligible for the subsidy after their previous exclusion, the outlet noted. However, the battery sourcing requirement will disqualify most models in the industry as many auto manufacturers acquire materials and produce those components in China. more here

13 Comments on Manchin-Schumer EV Tax Credit Disqualifies Almost All Existing Electric Vehicles: Automakers

  1. Whenever i hear anybody around here (Sarasota County, FL) talk about electric cars, I ask them how they’d like to be in the middle of a hurricane evacuation traffic jam watching their battery charge dwindle.

    They don’t say much and they get a kind of dark far-away look in their eyes.

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  2. “(Rules) for the credit are so strict as to exclude nearly all of the existing models…”

    NEARLY all…except the ones the congress members have invested in.

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  3. Bogus wind-up cars which REAL men and women will not drive. Add the fact that multiple reports and evidence have shown the batteries overheat and explode, while stranded EV female drivers put their lives and families at risk for rape and murder at night on a deserted road with a busted battery. fun not.

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  4. In 2010, the year it was introduced, I had a progressive coworker lease a Nissan Leaf. He had all kind of credits including a credit to offset installation of a charging station in his garage. After 3 years of living through running out of power all the time, having to turn off the heat in the winter, barely making it where he needed to go and having to spend hours charging it going places he turned the car in and bought a big diesel Dodge pickup and made up a bunch of sheepish excuses why he made the change.
    Come to think of it the electric car has not made much progress in over 10 years. They could give me a $30k credit and I wouldn’t buy one of these ridiculous vehicles.

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  5. Pull the plugs on wind, solar, and EV scams. We are BANKRUPT folks, we cannot afford ZERO ROI democrat/communist party, economy destroying good ideas. 30 years of complete failure is enough. Are China and Russia behind these movements or is the democrat party causing all this damage on their own?

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  6. I’ve made the argument many times that these EVs hauling around a ton or so of battery are little more than luxurious Tow Motors and with the fires they can be prone to, I wouldn’t want to be an insurance company covering them cuz when they go up in flames there is a very good chance of taking something else out with them! Stop trying to replace real cars with these toys. It’s not going to happen! Put smaller batteries in them, limit their range to 50 miles or so, reduce the cost, reduce the weight, reduce the fire hazard and promote them as simple daily errand runners. They can’t compete with real cars so stop trying to do so!

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  7. Ran into a nice fellow a couple of days ago driving a Tesla Model S. Raining like hell & sauna like humidity. I had stopped at my smoke shop to pick up some cigars that I had ordered. The poor guy looked like someone had kicked his dog & laughed about it. Being the decent sort, I asked him if he was alright. The guy told me he was on his way home when the rain started & his miracle car was not liking it. His charger indicator on his dashboard screen told him he had 10 miles or so before it was going to go kaput. Although 30 minutes before it was at full. He pulled into the parking lot & boom, DOA. He had to call the Tesla dealer in Indianapolis to send a tech, 2 hours away. I’m sure that visit was not going to be cheap, just like the car. I felt bad for the guy, but I wouldn’t have even thought about trying to help him. Probably end up electrocuted or on fire, or both. I wished him good luck & climbed into my evil, diesel burning Ford pick em up truck & drove home with no problems. Thank you, fossil fuels!

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