ShirBlackspots
Well-known member
- First Name
- Charles
- Joined
- Aug 19, 2021
- Threads
- 3
- Messages
- 241
- Reaction score
- 144
- Location
- Wichita Falls, TX
- Vehicles
- 2006 Ford F-150 XLT 5.4L
- Thread starter
- #1
Information cross posted from:
If my stocks grow like I want them to, plus if I can save $12,000 in the next two years and 4 months and the combined $12,500 tax credit, I could afford the F-150 Lightning with the extended range battery, max tow and 9.6kW Pro Power, and tailgate step. + TTL (about $67,000). I would only have to finance around $24,500 to $30,000.
If the tax credit is stackable, like i think it might be, that means $12,500.Tonight 645 pages of tax legislation dropped that is a first draft of language to be included in the reconciliation bill that the Democrats are trying to pass later this year. Of course, all of this is subject to change, but highlights from my skimming are below:
New EV credit that is the sum of:
The credit is now refundable, and can be remitted to the dealer at the point of sale. The credit also has an income limit, but only phases out above incomes of $400,000 Single/$800,000 MFJ. There are also new MSRP restrictions, so any EV above the following MSRP's is ineligible for a credit:
- $4,000 base amount
- $3,500 if the EV has a battery of at least 40kWh
- $4,500 if the final assembly occurs at a domestic, unionized plant
- $500 if at least 50% of components and battery cells are manufactured in the US.
There would also be a new credit for used EV's of up to $2,500. The sale price of the used EV would have to be less than $25,000, and would phase out for buyers over $75,000 Single/$150,000 MFJ.
- $55,000 for a sedan
- $64,000 for a van
- $69,000 for an SUV
- $74,000 for a pickup
It looks like this would all take effect in 2022, and replace the existing credits. Here is the link in case anyone wants to read and discuss (starts on p. 282): https://waysandmeans.house.gov/site...ans.house.gov/files/documents/SUBFGHJ_xml.pdf
If my stocks grow like I want them to, plus if I can save $12,000 in the next two years and 4 months and the combined $12,500 tax credit, I could afford the F-150 Lightning with the extended range battery, max tow and 9.6kW Pro Power, and tailgate step. + TTL (about $67,000). I would only have to finance around $24,500 to $30,000.
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