[GrussGott]

Originally Posted by dynamic

Lets just see how the Global Warming propoganda machine

See? This is exactly why people were telling you not to get all those doctorates in Mythology:

You read enough myths and eventually you believe them!

[dynamic]

Originally Posted by GrussGott

See? This is exactly why people were telling you not to get all those doctorates in Mythology:

You read enough myths and eventually you believe them!

Thank You, I have one, my wife has two. Possibly we will be as wise as you some day.

[taek]

Originally Posted by XGoober

There are not enough eyeroll emojis in the world for many of the more recent comments here.

Anyone have actual updates on the latest status of the proposed changes?

Current version still waiting. This is the proposed version so far:

Federal tax credit for EVs jumps from $7,500 to $12,500
Keep the $7,500 incentive for new electric cars for 5 years
Add an additional $4,500 for EVs assembled in the US using union labor
Another $500 for EVs using battery packs with 50% of components (including cells) made in the US
Zero-emission vans, SUVs and trucks with MSRPs up to $80,000 qualify (increased from previous policy)
Electric sedans priced up to $55,000 MSRP qualify (stays the same)
The full EV tax credit will be available to individuals reporting adjusted gross incomes of $250,000 or less, $500,000 for joint filers (decreased from $400,000 for individuals/$800,000 for joint filers currently in place)
EVs must be made in the US starting in 2027 to qualify for any of the $12,500 credit
Eliminates tax credit cap after automakers hit 200,000 EVs sold, making GM and Tesla once again eligible

[rmorin1249]

I've stopped holding my breath and have switched to twiddling my thumbs.

[FCX5]

Originally Posted by dynamic

Thank You, I have one, my wife has two. Possibly we will be as wise as you some day.

sleep at a Holiday Inn…🙂

https://www.ispot.tv/ad/7oMF/holiday...s-the-solution

[fanofbmwe46]

I'm trading my 2021 X5 PHEV bought in 2021 for a 2022 X5 PHEV (delivery in early 2022) as pretty much an even trade. I think this means I'll get two tax credits worth $7,500 each. One when I file for 2021 and another when I file for 2022. Wild times!

[GS2019]

Originally Posted by fanofbmwe46

I'm trading my 2021 X5 PHEV bought in 2021 for a 2022 X5 PHEV (delivery in early 2022) as pretty much an even trade. I think this means I'll get two tax credits worth $7,500 each. One when I file for 2021 and another when I file for 2022. Wild times!

I think the new EV tax credit may even be higher than $7500. Good luck

[dynamic]

Originally Posted by GS2019

I think the new EV tax credit may even be higher than $7500. Good luck

LOL, as they say, every man has his price.
Pay people enough and they will do what ever you want.
Hopefully the day will come when EVs will stand on their own merrit and the government no longer pays people to by them.

[Ropax5]

If the build back “worse” I mean better act is passed credits will drop to $4,000 due to batter size being leas than 40 kWh or even to $0 if the house version passes as fuel tanks in PHEVs must not exceed 2.5 gallon fuel tank to qualify.

https://www.forbes.com/wheels/news/e...-congress/?amp

[taek]

I agree I do think this version is worse because it cuts out PHEVs entirely.

Outside of CA/NY, there aren't even close to enough chargers to make a full Battery EV feasible. Chicago is the 3rd largest city in the country and the vast majority of the city has no chargers at all. And it just gets worse as you leave Chicago and into the surrounding Midwest areas like Wisconsin, Indiana, Michigan, etc..

This is data from 2020:


People interested in reducing emissions outside of CA/NY often choose PHEV. In Q2, there were 250k hybrids sold vs 118k battery EVs.

But TBH, this bill wasn't crafted for climate. It was obviously crafted for help US automakers & auto unions. It's more of economic nationalism, marketed as climate.

[dynamic]

"But TBH, this bill wasn't crafted for climate. It was obviously crafted for help US automakers & auto unions. It's more of economic nationalism, marketed as climate."

It really could not be stated any more clearly and accurately than this.
Spot on, excellent post.

[fanofbmwe46]

Originally Posted by Ropax5

If the build back “worse” I mean better act is passed credits will drop to $4,000 due to batter size being leas than 40 kWh or even to $0 if the house version passes as fuel tanks in PHEVs must not exceed 2.5 gallon fuel tank to qualify.

https://www.forbes.com/wheels/news/e...-congress/?amp

Yikes! This would screw up my plan!

[moodyhank82]

Originally Posted by fanofbmwe46

I'm trading my 2021 X5 PHEV bought in 2021 for a 2022 X5 PHEV (delivery in early 2022) as pretty much an even trade. I think this means I'll get two tax credits worth $7,500 each. One when I file for 2021 and another when I file for 2022. Wild times!

I have already traded my 2021 45e for a 2022 45e thanks to the insane used car prices. I was able to buy my 2021 for a really good price before all these parts shortages so ended up making about $15k profit (including the state and federal tax credits) on the trade. The dealer was able to sell my 2021 45e at a $5k markup over my trade-in value within a week. Crazy times...

[fanofbmwe46]

Originally Posted by moodyhank82

I have already traded my 2021 45e for a 2022 45e thanks to the insane used car prices. I was able to buy my 2021 for a really good price before all these parts shortages so ended up making about $15k profit (including the state and federal tax credits) on the trade. The dealer was able to sell my 2021 45e at a $5k markup over my trade-in value within a week. Crazy times...

Amazing! That's essentially what I'm trying to do. But won't be able to take delivery until early 2022. Cause I can't find a 2022 X5 PHEV currently on lots for under $70k anywhere around me.

[GS2019]

What's the latest with the EV 2022 Tax credit? I know it's stuck in the House or Senate. But those who buy 45e will continue to be eligible up to $7500? (Asking as a family friend was holding up to order a new 45e).

[XGoober]

Originally Posted by GS2019

What's the latest with the EV 2022 Tax credit? I know it's stuck in the House or Senate. But those who buy 45e will continue to be eligible up to $7500? (Asking as a family friend was holding up to order a new 45e).

I would love to get a better grasp of what to expect too. Any day now my dealer is going to call me to finalize my build for an April delivery. If the credits disappear I could be out of the market for the 45e.

[cellarrat]

Originally Posted by XGoober

I would love to get a better grasp of what to expect too. Any day now my dealer is going to call me to finalize my build for an April delivery. If the credits disappear I could be out of the market for the 45e.

There's no way to know at this point (unless maybe you are Joe Manchin). Changes to the existing law are bundled with Build Back Better. If it passes, things will change, but how remains to be seen. Wish there were better guidance available but there really isn't.

[45e21]

Originally Posted by GS2019

What's the latest with the EV 2022 Tax credit? I know it's stuck in the House or Senate. But those who buy 45e will continue to be eligible up to $7500? (Asking as a family friend was holding up to order a new 45e).

The $7,500 credit is still valid unless congress passes the new law or BMW reaches the 200,000 magic number. Here is the link to IRS site.

https://www.irs.gov/businesses/irc-3...vehicle-credit

[jad03060]

Unless changed, the additional money on top of the $7500 currently only applies to US built UNION shops. From what I've heard, the BMW shop is not a union shop.

[s4iscool]

Can anyone clarify if the base msrp of the 45e is used vs the optioned up price? Asking because if it's the later, youre screwed if you option over 80k. From what I can research with past EVs, the base price was used as that was the most consistent way. I hope so as the 45e is under 65k starting.

[TurtleBoy]

Originally Posted by s4iscool

Can anyone clarify if the base msrp of the 45e is used vs the optioned up price? Asking because if it's the later, youre screwed if you option over 80k. From what I can research with past EVs, the base price was used as that was the most consistent way. I hope so as the 45e is under 65k starting.

There is no limit, no price is used.

The proposed bill doesn't clarify so likely up to the IRS to interpret.

[jad03060]

Keep in mind, the Federal tax credit is or was designed to make buying a PHEV or EV cheaper to improve the adoption rate and help get rid of older, less efficient vehicles, but there weren't all that many on the lower price end at the beginning, so to get some moving, IMHO, there wasn't a price indexing to limit what you could buy. Today, there's lots more at the lower end people can purchase. If they really wanted to make it less expensive to a lower income person that could afford the more expensive PHEV or EV version of the vehicle they want, they wouldn't have made it a credit and would have made it a rebate that could be applied at the sale, so people wouldn't have to wait maybe a year or more before they saw that money back.

People buying a 45e that can be optioned to nearly $100K generally don't actually need the credit, but are also often eligible for the full amount the way it's configured.

So, to me at least, to make things more equitable, it would make some sense to provide more on the lower priced vehicles, and start to limit the amount given to those buying at the upper end...they would increase the amount of EV and PHEV vehicles sold as they would also likely be driven more. Some, by no means all, people buying an X5 45e may not be using it as their only vehicle, so the benefit to the environment may not be as large as someone using it for almost all of their travels.

While I did get the full credit, I would have bought it anyway if I hadn't. ANd, it's now my only vehicle and most of my travels have been on batteries. But, I haven't really been driving all that many miles, so my impact has been fairly small compared to a road warrior driving the average or more per year.

I'm not that big on an extra amount based on being made by a union shop, but my guess is it was one of those things needed during the negotiations to get it passed at all by some.