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Discussion Starter · #1 ·

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Ok, lots of words and numbers in this, and some of it might not even happen, but maybe. Who knows. Anyway. Start on page 366 when you need something to make your brain hurt early in the am.

Yeah, I took a look at this earlier this AM. It's just insane how they write our legislation in the USA! o_O As best I can determine under the proposed legislation, as long as a "taxpayer" has a AGI of $150k single and $300k joint, they would qualify for the tax incentive to purchase an EV. Therefore, this new proposed bill removes the necessity to have tax liability to offset the $7,500 tax credit? The bill includes lots of other provisos as you would expect. However, this one I speak of is the one of most importance to me since I don't have the current required tax liability which would allow me to take advantage of the tax credit...even if GM were to be elgible (which they would be under the new bill).

How does anyone else interpret this aspect of the new proposed legislation?
 

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Would be huge if it comes to fruition. Really tilts things in favor of the Blazer vs. say, a Fisker Ocean.
Saw something about it on Reddit last night. Here are some highlights:

  • New income limits for Adjusted Gross Income (Much Lower than before)
    • $300k - Joint
    • $225k - Single head of household
    • $150k - Any other
  • MSRP Caps
    • $80k for trucks/suvs
    • $55k for sedans (Sucks)
  • Percentage EV battery produced in the US
    • 50% before 2024
    • Increases 10% per year
    • 100% by 2028
  • Used vehicle
    • Up to $4K off used vehicle, selling price must be $25K or less, bought from a dealer

This thread has a lot of good info at the top:
https://www.reddit.com/r/electricvehicles/comments/wa8viu
 

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2019 Nissan Murano SL
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Would be huge if it comes to fruition. Really tilts things in favor of the Blazer vs. say, a Fisker Ocean.
Saw something about it on Reddit last night. Here are some highlights:

  • New income limits for Adjusted Gross Income (Much Lower than before)
    • $300k - Joint
    • $225k - Single head of household
    • $150k - Any other
  • MSRP Caps
    • $80k for trucks/suvs
    • $55k for sedans (Sucks)
  • Percentage EV battery produced in the US
    • 50% before 2024
    • Increases 10% per year
    • 100% by 2028
  • Used vehicle
    • Up to $4K off used vehicle, selling price must be $25K or less, bought from a dealer

This thread has a lot of good info at the top:
https://www.reddit.com/r/electricvehicles/comments/wa8viu
Yeah, don't quite know where this proposed legislation would leave Fisker? Result may turn into a complete flip in favor of GM and other North American based car companies? Things are getting really interesting! Make take a few more days for things to shake out?? I'm still not positive if the $7,500 would apply to me as an actual purchase credit as long as the vehicle type and price, country of mfg., adjusted income level, etc. was as the new bill would require?
 

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Yeah, don't quite know where this proposed legislation would leave Fisker? Result may turn into a complete flip in favor of GM and other North American based car companies? Things are getting really interesting! Make take a few more days for things to shake out?? I'm still not positive if the $7,500 would apply to me as an actual purchase credit as long as the vehicle type and price, country of mfg., adjusted income level, etc. was as the new bill would require?
Great question re: rebate vs. tax credit. I don't think I saw anything related to that. Also, I have to keep any excitement in check, since there's definitely no guarantee this actually goes the distance (fool me once ...)
 

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Great question re: rebate vs. tax credit. I don't think I saw anything related to that. Also, I have to keep any excitement in check, since there's definitely no guarantee this actually goes the distance (fool me once ...)
Same here! I'll believe it when I see it...and...get it! This whole thing has been hanging on the slimmest of threads and everything will have to fall into place politically for this thing to make it to the finish line! So, like always, we'll see how it works out.
 

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Discussion Starter · #7 ·
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Will the Blazer even qualify as if I'm not mistaken, it will be built in Mexico?
Mexico is in North America...so yes...at least for the "assembled in" ($3,750) part of the requirements. However, when it comes to the battery requirements (the second $3,750 portion of the $7,500 total), I'm not so sure? Maybe some of the battery experts on the forum may know the answer to this part? The battery requirements are lots more complicated and nuanced than the assembled in requirement. In any event, it seems clear to me that the Blazer EV would at least be eligible for half of the credit if the legislation passes as currently configured. Interested to see what others have to say.:unsure:
 

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Mexico is in North America...so yes...at least for the "assembled in" ($3,750) part of the requirements. However, when it comes to the battery requirements (the second $3,750 portion of the $7,500 total), I'm not so sure? Maybe some of the battery experts on the forum may know the answer to this part? The battery requirements are lots more complicated and nuanced that the assembled in requirement. In any event, it seems clear to me that the Blazer EV would at least be eligible for half of the credit if the legislation passes as currently configured. Interested to see what others have to say.:unsure:
Yeah! Brain Fart on my part....I read it as 'built in The United States of America' lol....I knew Mexico was in North America, and it makes sense because of NAFTA.....had to stop and think what NA stood for. I'd better take myself back to school. LOL
 

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Illinois IEPA rebate of $4k through 2026 and will still be available after that...but you have to buy from a dealer in Illinois.

If you can stack rebates that could be a game changer, but also may mean it will be hard to find a dealer in Illinois that charges MSRP...
 

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Another consideration, the batteries are the other half of the equation.
As I stated in another thread on the forum is the following:

If I have read everything correctly, GM has partnered with LG Energy a Korean company, who we have Free Trade agreement with. Now, if they, LG, are buying raw materials from China, does that still affect the Tax Credit equation. Again, from what I've read, probably not.
 

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Another consideration, the batteries are the other half of the equation.
As I stated in another thread on the forum is the following:

If I have read everything correctly, GM has partnered with LG Energy a Korean company, who we have Free Trade agreement with. Now, if they, LG, are buying raw materials from China, does that still affect the Tax Credit equation. Again, from what I've read, probably not.
For 2023 only 40% of raw battery materials needs to be sourced from North America or any free trade agreement country. So if raw materials are sourced from China, as long as it's 60% or less it will qualify. All materials from China are excluded beginning in 2024 as they are listed as a country of concern.

Added note: As written currently, the credit applied at dealer isn't until 2024 to give government time to setup a system for dealers to report vin#. So it seems that if we take delivery in 2023 we still would have to wait until tax time or something. This bill is poorly built and honestly irritates me. 😡
 

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Given that the Blazer will qualify for at least half of $7500, if not all of it (Depends on the battery situation and whether one purchases in 2023 or 2024 - the release date could slip) I sure hope that Chevy doesn't drastically increase the price of the Blazer before it is released.

Ford's $7,000 Lightning pricing increase was more than coincidental, IMO.
 

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People keep talking about half the tax credit based on built in NA. I don’t think that’s true. I think that is a precursor to get any credit. There are still 2 parts. 1 is battery materials and the other are battery component. Each have there own % requirements to fulfill to get each half of the credit.
 

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People keep talking about half the tax credit based on built in NA. I don’t think that’s true. I think that is a precursor to get any credit. There are still 2 parts. 1 is battery materials and the other are battery component. Each have there own % requirements to fulfill to get each half of the credit.
Good point - my bad.
 

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People keep talking about half the tax credit based on built in NA. I don’t think that’s true. I think that is a precursor to get any credit. There are still 2 parts. 1 is battery materials and the other are battery component. Each have there own % requirements to fulfill to get each half of the credit.
I agree with you @Peterd15. I have seen this in a few other forums as well.
 
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