BREAKING: EV Tax Credits Dead – July 2022

Over the last month, EV Tax Credits have resurfaced as a topic of discussion in congress. As Joe Manchin and Chuck Schumer have been in detailed discussions over the last four weeks, it appears we are finally getting closure on the topic once and for all.

Build Back Better was ultimately shot down at the end of 2021, and with it, the EV tax credits we were all anticipating. There was a slight glimmer of hope at the beginning of the year, but it has been quiet ever since.

With rising inflation and interest rates on the rise, it appears that Democrats are now motivated more than ever to get something passed before the mid-term elections. Previously, Democrats were standing firm in their respective positions and not willing to budge. Because of this, ultimately BBB failed.

It appears that after numerous discussions and deep negotiations between Chuck Schumer and Joe Manchin, all climate priorities in the bill have been killed. Joe Manchin will not support any spending on priorities while inflation is as high as it is right now. The only spending Joe Manchin seems to have an appetite for at this moment is on Medical benefits.

So this is obviously a major set back for the progress being made on EV tax credits, and although Joe Manchin said he would revisit and consider when inflation comes back down, that will not be until after crucial mid term elections, in which Democrats may very well lose the power they now have in both chambers.

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  1. Can you help me with this situation?
    Maybe even do a video on this if needed.
    Why do I have to clean the inside of my windshield almost daily?
    I have a 2022 model Y long range.
    Am I doing something wrong? Does my car need service?
    Several of my friends who also have 2022 model Y’s have been complaining about the same thing!

  2. I think one of the biggest problems is/are dealerships. I hate them and everyone I know hates them. I'd rather wait to buy my ev online than have to deal with a dealership. You know what I mean?

  3. I was looking at a used 2017 Bolt. I was not going to get any tax credit at all. My income level is far below any of those caps, closer to poverty level sadly. I could have really used it. Unfortunately, it changed my mind about buying that EV. Hopefully I can afford my dream car someday. Tesla model 3.

  4. Good. Even Obama's economic advisors told the Biden Administration to not sign that $1.9T bill, let alone go for a $5T bill, because it would overheat the economy and result in runaway inflation. Well guess what, that's precisely what happened and now near double-digit inflation is impacting EVERYONE. Poor families, minorities, immigrants, etc. Going for more tax credits in another big spending bill that will only make inflation worse is insane when it will only benefit those who can already afford an EV without the credit, especially since demand for EVs doesn't need to be stimulated in the first place. Forget the tax credits for EVs – they're not coming back, and that's a GOOD THING.

  5. Elon and Manchin are right there isn’t much incentives needed and necessary, if you think about the gas of price and cost of living we are already seeing people making that shift already automatically and willingly even without the tax credit. In the end of the day driving an EV the cost of owner ship will be lower always compared to a ICE vehicle No. matter what brand ICE vehicle you have whether it’s Toyota or Hyundai ect… the shift has already begun even without any much incentives. In the beginning yes it was beneficial like when plug in hybrids to basic EVs like the Bolt and Leaf came out yes it’s great but these types of cars have now been on the road now for sometime.. it’s not longer an exclusive or almost premium car anymore…

  6. Look. I have a Tesla on order so I’m a fan but it’s a completely stupid bill. It’s not gonna help production of these vehicles. Elon said it himself. We already can’t get our hands on these. My model Y which had a November date is now April of 2023. I’d rather not the government screw with our money supply. They do that enough

  7. Manchin doesn’t want to use tax payer money to subsidize the American tax payer’s ability to make EV purchases, but he has no problem with tax payer dollars being used to subsidize the coal and oil industries. Ridiculous. Those tax dollars are all going to be spent, it’s just who gets those dollars is what’s at issue.

  8. I have a reservation, but then I’ve had that same reservation for nearly a year, and still no car. So, I might have to consider other brands. A few are coming available, I will wait another month or two, but at year end, it will be time to move on. Sorry Tesla, can’t wait forever.

  9. In this inflationary environment who in the right mind will pass a spending bill of any kind?

  10. bought a Kia EV6 GT Line, about $12k less than a Y, $7.5k tax credit, 0-60 in 4.6s, 320hp, 1000kwhr free charging equivalent 2 yrs of driving from Electrify America, many features than Y. very low road noise, better suspension, Apple CarPlay, one pedal driving, ventilated seats, better quality, reliability, service centers everywhere, HUD, 800v architecture charges 10-80% in 18min at DC superchargers (2x of Y), many colors to choose, 20” wheels, 300 mile range, dual motor.

  11. If they rid of the solar credit, I’ll be on a world wide manhunt for those responsible.

  12. When you say dead.
    Are you saying that those that have already purchased a EV that qualified for the $7500 tax credit. Will now not be able to claim that credit when the file for their taxes next year?

  13. As much as I'd like more people to drive EVs additional credits aren't needed. There is such a high demand already. In addition to increased supply and increased infrastructure what we need is what Chevy is doing and making EVs more affordable.

  14. So glad I pulled the trigger on grabbing a model 3 last September when the car was still 39,990.

  15. I wanted an EV and that tax credit, but didn't really care much about make since all manufacturers now have autopilot highway driving, fast charging and pass all safety tests with the highest ratings.

    However, it's the dealers that screwed themselves out of a deal with massive markups of $8K – 14K. They knew their EVs are hot, and they price them so that they take away your tax credit.

    I went with Tesla and it seems to have an autopilot that's so much better than all others. So thankful of those unscrupulous dealer tactics.

  16. Tesla auto insurance is another unforeseen perk! Saving ($2750) per year.. Do the math.. it’s not expensive on the long run!

  17. The tax credits are a waste of money. If you want an EV, buy an EV. The tax payer should not be giving out money for you to buy one. Also, buy $TSLA

  18. These tax credits are just a waste, really. People that buy EVs, especially Tesla, just want the car. Even if gas was $1.00 a gallon, I would own a Tesla. No inventory available anyway, well at least for Tesla.

  19. Why, if EVs are the future, should they be subsidized rather than proving they can stand on their own? Why should people who aren't interested in one or can't afford one, be forced to pay money from their pockets to people who want to buy one? I ask this as a 2021 Model 3 owner.

  20. Thanks for the update On the Tax credits. Hey BTG do you if the PPF from drive protected shop will go over a warp?

  21. And that’s why I just went ahead and just purchased my MY earlier this year after after being offered one in Dec 2021…

  22. Glad I bought my Model Y. I was trying to wait on the credits and gave up. The car has gone up 10,000 dollars since I purchased it.

  23. If your going to be spending money on an EV you should spend it on the best one for all and that is you know what. Why settle for less and not the best. Skip the buyers remorse

  24. They are selling every EV they make, regardless of OEM, why give them a tax break if they are in such demand already!

  25. All this focus on Joe mansion, yet Democrats in office didn’t even bother appealing to any other Republicans. We’ve had bills that have gotten by Pardison support, so I don’t see why when it comes to these kinds of spending bills that they couldn’t reach across the aisle for Republican support to get something past, instead they still have nothing to show for it

  26. They didn't have the votes and never had the votes. Manchin and Sinema are both moderate Democrats at best. There is nothing blue about the state of West Virginia, and Arizona is at best a moderate state. If either voted for Build Back Better, their career as politicians would be done. So while the Democrats held "control" of the Senate since 2020, what they really had was 48 votes all along. So I don't know…maybe win more seats next time before trying to pass $2.5T of left leaning legislation.