sought approval to use the commercial electric vehicle tax credit to boost consumer EV access. Automakers said the credit could be used to reduce leasing prices.
The $430 billion U.S. Inflation Reduction Act passed in August ended $7,500 consumer tax credits for purchases of electric vehicles assembled outside North America, angering South Korea, the European Union, Japan and others. The new Treasury guidance does not change the definition of what constitutes North American assembly to make more vehicles eligible for EV purchases.
Treasury said it was using "longstanding tax principles" to determine consumer leasing could qualify for the EV tax credit. The IRA also imposes significant battery minerals and component sourcing restrictions, sets income and price caps for qualifying vehicles and seeks to phase out Chinese battery minerals or components. The commercial credit does not, however, have the sourcing restrictions of the consumer credit.reject allowing use of the credit in consumer leasing saying they were trying to use the provision "as a way to bypass the strict sourcing requirements.
order yours today!! 🤦 RWMann
in time you won't be able to charge the dam things when you need them most. like the HOLIDAYS. Over Christmas drivers here in the UK had to queue up for hours to charge them, when away from the safety of their home chargers
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Shits dumb.
shefska
Urgent relief is here before it's too late to save the girl
Get this truck, drive half-way to your destination, then charge the truck in the Walmart parking lot for four hours before continuing the 300 mile drive at 50 mph so you can make it there.
Ohh goodie lmfao you can keep that charging crap
EV tax credit for taking an EV Uber ride? EV tax credit for gazing at a car lot filled with EVs? The possibilities for government-inspired capital allocation are endless!
Great, so leased car prices will increase exactly by that much
Oh come on, we're in debt quit giving tax breaks to expensive EVs.
it is very easy to clean the lint on your clothes👇😂