Skip to comments.Automakers say 70% of EV models don't qualify for tax credit under Senate bill
Posted on 08/06/2022 3:38:53 AM PDT by Libloather
Buyers of a majority of electric-vehicle models would not qualify for a $7,500 tax credit under a Democratic proposal in the U.S. Senate.
That's according to a group of major automakers.
Automakers have been privately concerned about the proposal's requirements for vehicles' batteries and critical-mineral contents to be sourced from the United States.
The July 27 proposal by Senators Chuck Schumer and Joe Manchin would make 70% of U.S. electric, plug-in hybrid and fuel-cell EVs ineligible upon passage, according to John Bozzella, heads of the Alliance for Automotive Innovation.
The group represents General Motors, Toyota Motor, and Ford Motor among others.
"None would qualify for the full credit when additional sourcing requirements go into effect," he said.
Car makers want significant changes to the proposal, which is part of a larger drug pricing, energy and tax bill.
Without the tax credit, the vehicles become more costly for American consumers.
resident Biden has a target of having half of all new vehicles sold be electric or plug-in hybrid models by 2030.
(Excerpt) Read more at foxbusiness.com ...
At least that would normally be the democrat view.
Typical democrat "thinking".
Make it impossible to mine the raw materials in the USA, then wonder why you don't mine the raw materials in the USA.
Not a big fan of Hannity but he did himself a favor and had Charles Payne on a couple of days ago.
Payne breaks down exactly what’s going on with EVs and its worse than I thought.....a TOTAL scam that’s actually worse for the environment than ICE vehicles could ever be.
Starts at 1:30 Unbelievable
These people are absolutely insane and are dedicated to destroying this country and us in the process.
They are trying to force us into being only able to buy electric cars run by batteries produced in this country on one hand, and on the other hand, make it impossible via their environmental policies to produce these batteries in this country.
See my tagline. I believe it applies now more than ever.
Democrats giveth, and Democrats taketh away.
This law might work to some advantage. It should discourage a few potential buyers & as someone else has mentioned...why should other taxpayers foot the bill for the tax credit anyway? Personally, I’m seeing less reasons for wanting to own an EV & more reasons for not even having them available, let alone ever owning one.
Subsidies are required when the economic choice is not the choice government requires you to make. Government much prefers uneconomic and or poor choices to be made.
Fear....... the article represents fear.
Tesla is coming on hard with lower prices and unbeatable cars manufactured at the rate of 2 million per year.
The disruption in process from Tesla is unstoppable ad immune to government subsidies.
As a third party, I observe and present a finding.
There are a lot of problems in the country which need to be solved, helping rich people buy an EV cheaper is not one of them. Using hard working Americans’ tax money to help the country club crowd drive a nice new shiny EV to their golf game is not addressing the needs of the country. We should scream from the rooftops asking why Libs voted to help the rich buy a car while there are hungry children in this country!
Why should any EVs qualify for tax credits? If people think they’re so great they should pay the market price for them not some distorted price caused by government intervention.
Ev’s for the rich is past history. Tesla is coming on strong with affordable cars
What hungry children? I haven’t read any new stories about any children in this country starving to death.
Affordable is relative but perhaps competitive is a better term
Why should any of them qualify for a tax credit ?!?!
There was a lot of money for hydrogen infrastructure in the last big spending bill the rats passed.
This sounds like another attempt to push the market in a certain direction.
How many democrats have recently invested in an EV technology that would be helped by this bill? And divested or shorted other technologies that would be hurt by it.
“Not a big fan of Hannity but he did himself a favor and had Charles Payne on a couple of days ago.”
If Fox News would give Charles Payne Hannity’s prime time hour I would probably watch it. I rarely have time during the day to watch his show on Fox Business but I try to catch him during the day on satellite radio if I’m driving.
I gave up watching Hannity, or listening to his radio program, years ago. It takes him an hour to communicate what can easily be said in 5 minutes. His tendency to bloviate indicates he doesn’t spend hours doing homework, instead he often just wings it. Plus he won’t ask tough questions of his buddy Lindsay Graham. The two of them together are insufferable.
Charles Payne does his homework, is a good communicator, and usually has a seriously thought out perspective on most topics.
The Cyber Truck was unveiled in 2019. Now they are saying they (might) go on sale in 2023. They promised that their “Superchargers” would be delivering 100% renewable energy by the end of 2021. That never happened.
When are your “affordable” Teslas due to arrive?
Strip mining must be greener than pipelines.
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.