Most electric vehicles won't qualify for federal tax credit

That’s mainly because of the bill’s requirement that, to qualify for the credit, an electric vehicle must contain a battery built in North America with minerals mined or recycled on the continent.

The idea behind the requirement is to incentivize domestic manufacturing, build a robust battery supply chain in North America and lessen the industry’s dependence on overseas supply chains that could be subject to disruptions. If the metals requirement isn’t met, the automaker and its buyers would be eligible for half the tax credit, $3,750.

The tax credit would be available only to couples with incomes of $300,000 or less or single people with income of $150,000 or less. And any trucks or SUVs with sticker prices above $80,000 or cars above $55,000 wouldn’t be eligible. One component of the bill would require that after 2024, no vehicle would be eligible for the tax credit if its battery components came from China. Most vehicles now have some parts sourced in China, the alliance said.Article content

Manchin, long a holdout Democrat who negotiated terms of the deal with Senate Majority Leader Chuck Schumer, had blocked previous climate and social spending proposals.Stabenow asserted that the bill was written by people who don’t understand that manufacturers can’t simply flip a switch and create a North American supply chain, though they are working on it.

Go back to America, Ottawa Citizen.

This is for USA! Who cares?

None should qualify.

😂😂

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