[JWHOP]

Looks like the Build back better tax bill will change the rebates available on electric vehicles.
Only Sedans under $55000 will qualify for the $7500 tax rebate. Guess that means
no Lucid Air models will qualify for the rebate as of 2023. Bummer.

 

[nolimit]

Looks like the Build back better tax bill will change the rebates available on electric vehicles.
Only Sedans under $55000 will qualify for the $7500 tax rebate. Guess that means
no Lucid Air models will qualify for the rebate as of 2023. Bummer.

I heard this. How many EVs are under $55K?

When does it take effect?

 

[steveinarizona]

I am sure I am in the minority here but I think it is reasonable for the government to place an upper limit price on using tax dollars to subsidize folks who can afford a Lucid, BMW, Audi, Porsche, Rivian, etc.

 

[evonthego]

I am sure I am in the minority here but I think it is reasonable for the government to place an upper limit price on using tax dollars to subsidize folks who can afford a Lucid, BMW, Audi, Porsche, Rivian, etc.

It might even help to push automakers to come out with EVs in cheaper segments. Tesla is expected to come out with a smaller car (Model 2?) and I bet Lucid will as well.

 

[Daniel2022]

Arbitrary rules around tax credits only serve to add further distortion to the efficiency of the free market. Best to either give the tax credit to everybody or nobody.

 

[Eolus]

Don't be certain that this applies to Lucid, or any other manufacturer that has not met the 200,000 vehicle limit in the existing tax credit. I have not read anything suggesting that the existing credit for those manufactures is being changed.

 

[Lquid]

Looks like the Build back better tax bill will change the rebates available on electric vehicles.
Only Sedans under $55000 will qualify for the $7500 tax rebate. Guess that means
no Lucid Air models will qualify for the rebate as of 2023. Bummer.

If a Lucid is reserved in 2022, would that reservation qualify someone to get the old $7500 credit?

 

[Eolus]

Under existing law, the credit is based on the date of delivery. That is the tax year to which the credit applies. When you order a car is not relevant.

 

[Lquid]

Under existing law, the credit is based on the date of delivery. That is the tax year to which the credit applies. When you order a car is not relevant.

Thank you

 

[yellowchevy66]

Looks like the Build back better tax bill will change the rebates available on electric vehicles.
Only Sedans under $55000 will qualify for the $7500 tax rebate. Guess that means
no Lucid Air models will qualify for the rebate as of 2023. Bummer.

We will still get the credit if we bought in 2022?? right

 

[lnirenberg]

I think the point is to encourage manufacturers to produce more mass market vehicles. Those of us, especially those of us who already own or have a build set at the pre-production price should count ourselves lucky and if we squeak under the line & get the credit it’s a bonus. This explains the new law/regs pretty thoroughly—

EV Tax Credits Could Be Back for Popular Brands and Used EVs under Proposed Law

The Democrats' Inflation Reduction Act of 2022 would get rid of the 200,000-vehicle limit that stops popular brands from giving EV tax credits, with the $7500 incentives extended through 2032. But can it pass?

www.caranddriver.com

 

[yellowchevy66]

Looks like the Build back better tax bill will change the rebates available on electric vehicles.
Only Sedans under $55000 will qualify for the $7500 tax rebate. Guess that means
no Lucid Air models will qualify for the rebate as of 2023. Bummer.

I bought a nissan leaf in 2016, got tax credits 7500 from Federal and 5000 from Georgia, The next year Georgia stopped the tax credit, and started adding a fee of $257 dollars to all electric cars, because the rational was electric cars are not paying any gas tax to help build the roads, and maintenance on the roads. If you have ever been to Atlanta, that city is one city that should encourage people to drive electric cars, Atlanta traffic hell to drive in. , lots of smog.

 

[Rdono]

It might even help to push automakers to come out with EVs in cheaper segments. Tesla is expected to come out with a smaller car (Model 2?) and I bet Lucid will as well.

Lucid is planning a smaller SUV but I doubt it hits in under 70k.

 

[lnirenberg]

Arbitrary rules around tax credits only serve to add further distortion to the efficiency of the free market. Best to either give the tax credit to everybody or nobody.

Those of us who can afford a Lucid will neither be encouraged or discouraged from buying because a tax credit. In order for electric cars to have its maximum impact the more affordable end of the market needs to be stimulated and this is where the tax credit will have its greatest impact. Tax policy has always been used as a tool for social engineering and behavior mod.