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It’s possible no electric vehicles can qualify for the new tax credit


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It’s possible no electric vehicles can qualify for the new tax credit

The Inflation Reduction Act of 2022 passed the United States Senate on Sunday and heads to the House of Representatives, where it is expected to pass easily. It contains numerous changes to the tax code, meant in large part to prevent the worst effects of climate change. Among these is a revision to the existing tax credit for new plug-in electric vehicles.

Without knowing more, it's impossible to be definitive about which EVs will qualify for at least $3,750, but the list may include Ford EVs that use cells from Georgia, the locally produced Volkswagen ID.4s, GM EVs that use its new Ultium cells, and Teslas that use cells from Nevada.

But it's probably more straightforward regarding the other half of the credit. Even if these domestic battery plants increase the US's share of battery manufacturing, at least 40 percent of the critical chemicals that go into those cells must be extracted and processed locally, a percentage which will escalate by 10 percent each year.

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In other words democrats made it so that no electric vehicles will qualify for tax credits anymore. These are the same people who you trust to know everything about global warming.

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