“expand and modify the tax credit programs that encourage consumers to purchase electric vehicles. The proposed new consumer incentives would fully replace the current maximum refundable tax credit system” by:supplementing it with an additional US$4,500 for EVs with final assembly by unionized workers in the United States; and
adding an additional US$500 rebate for vehicles with 50 per cent of their battery components made in the U.S.Article content From 2022 to 2027, this means anyone buying a battery-powered EV would receive at least US$7,500 — and as much as US$12,500, if the battery and car are built in the U.S. More troubling — the death knell Volpe alluded to — is that, starting in 2027, this same bill proposes only vehicles with final assembly in the United States would qualify forpart of the program. In other words, after January 1, 2027, electric vehicles built in the U.S. would be eligible for US$12,500 in rebates; anyone buying an EV built anywhere else would receive nothing. Nada. Zip. Not a penny.
Parts of a Ford pre-production all-electric F-150 Lightning truck prototype are seen at the Rouge Electric Vehicle Center in Dearborn, Michigan, U.S. September 16, 2021.As unfair competitive practices go, Build Back Better’s EV program would seem an incentive with extreme prejudice. And, in fact, it may very well even be illegal and/or unenforceable. Under WTO rules as well as the recently organized USMCA pact , such incentives for locally built products might not pass muster.
drivingdotca Many Americans will pay higher taxes & not just wealthy which is Biden & Democrats sales line. And as this article shows will hurt Canadians. The Biden BBB bill is geared toward special interests like auto unions,teacher unions & other favorites. Why stop Keystone pipeline?
drivingdotca Wrong. Huge amounts of EV material are IN CANADA. this is so wrong it hurts.
drivingdotca It;s okay we'll live off the UBI