Skookum
Well-known member
- Joined
- Dec 19, 2018
- Posts
- 3,758
And people with lower income can't afford them. So who is getting these tax credits? I'm really asking here, I know nothing about EV's or tax credits.
Affordability is relative, and needs to be considered individually. But with new EV's on the market for $28k or less when the cheapest new vehicle on the market has a MSRP at just under $20k seems like EV's are reaching price levels attainable to new car shoppers. Used EV's can be found even cheaper and can still qualify for credits.
General eligibility and income thresholds are listed in the article below.
It should be noted that as of this year, half the credit is dependent on the EV having domestic and North American critical materials content, as well as must be manufactured here in the US or with partners with which we have free trade agreements. Specifics are in the article. But it's worth calling out that the tax credits are very pro-consumer, and the credits are designed to incentivize sourcing and assembling EV's within the US. It's very pro-American, something that the current administration isn't given enough credit for.
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