EV Tax Credits for GM And Tesla Poised For A Return If Democrats Take Power

Tesla and GM’s EV tax credits may be restored under a Joe Biden presidency, according to an analysis of the presidential candidate’s tax proposals by the Tax Policy Center (TPC). The authors of the analysis assumed that Biden might make EV tax credits permanent.

A Congressional Research Service (CRS) document states that consumers who purchase “qualifying plug-in electric vehicles (PHEVs)” may claim federal income tax credit of up to $7,500. The CRS works exclusively with the United States Congress and acts as the legislative body’s official library.

PUGPROUD - 11/3/2020 10:49:50 AM

+4 Boost

Let market forces and consumers decide not tax increased incentives which just delays the day of reckoning.

ctsang - 11/3/2020 10:57:28 AM

0 Boost

he will do whatever someone will pay him to do

CANADIANCOMMENTS - 11/3/2020 11:15:28 AM

+2 Boost

Incentives like this are done to change buying behavior and increase adoption rates ahead of what market forces alone would allow. But this time around instead of paying rich people to buy BEV's, the tax incentive should be targeted solely at the cheapest BEV and PHEV offerings. Nobody ponying up for a new Tesla Model X or a PHEV S-Class (should it come around) should get a tax break.

MDarringer - 11/3/2020 6:01:16 PM

+1 Boost

If you have to bribe people, the technology isn't ready.

CANADIANCOMMENTS - 11/3/2020 6:32:01 PM

+2 Boost

@MD- I'd agree all the self drive bits are not ready or safe for public use, but I think most mfg have the hybrid or BEV bits down pat. Execution is another matter entirely when it comes to build quality.

MDarringer - 11/3/2020 8:13:05 PM

0 Boost

The government should not be bribing people to buy certain cars.

SanJoseDriver - 11/4/2020 5:13:36 AM

+2 Boost

Tesla hasn't had the $7,500 incentive for 10 months, it's been doing just fine.