Today congress is expected to review a controversial new tax credit plan designed to convert 50% of drivers from internal combustion to electric propulsion by 2030.
Massive discounts could be on the way for electric vehicles purchased in the United States. Car buyers planning to buy an electric vehicle who earn less than $400,000 should not complete a transaction until the proposed electric vehicle tax credit is finalized. The savings could be substantial and will make it even more complicated to decide which electric vehicle to buy. The bill is expected to be reviewed today and would provide up to $12,500 off a new electric vehicle. Below is a breakdown of what the current proposal includes and which car buyers would qualify for the incentive:
| Vehicle | Proposed Credit | Purchase Price & Eligibility |
| New Union-made Electric Vehicles | up to $12,500 | Electric Cars up to $55,000 – Chevrolet Bolt for Sale Electric SUVs up to $69,000 – Ford Mach-E for Sale Electric Trucks up to $74,000 – All the best electric trucks you need to watch in 2021 |
| New Non union-made Electric Vehicles | up to $7,500 | Electric Cars up to $55,000 – BMW I3 for Sale Electric SUVs up to $69,000 – Audi E-Tron Sportback for Sale Electric Trucks up to $74,000 – All the best electric trucks you need to watch in 2021 |
| Used Electric Vehicles | up to $2,500 | – Tesla Model 3 for Sale |
| Battery made in USA | additional $500 | – |
| New Electric Bicycles | up to $1,500 available every 3 years per individual | up to $8,000 |
This is written by Ford/UAW lobbyists, as they make their electric car in Mexico. Not obvious how this serves American taxpayers. https://t.co/FUUXARHlby
— Name (@elonmusk) September 12, 2021
Here is a link to the bill: https://waysandmeans.house.gov/sites/democrats.waysandmeans.house.gov/files/documents/SUBFGHJ_xml.pdf