On Friday, The Epoch Times reported the following:
The Internal Revenue Service (IRS) announced Friday that it would propose rules that would make it more difficult for a number of new electric vehicles (EVs) to qualify for tax breaks, according to a news release.
Starting April 18, the IRS will enforce a domestic sourcing requirement for minerals and components used in EV batteries, the agency said. Analysts say that a number of new EVs won’t qualify for a clean vehicle tax credit of $7,500 that was implemented under the Inflation Reduction Act that was passed last year.
…To qualify under the new rules, the IRS said that an EV must have a battery capacity of at least 7 kilowatt hours, have a gross vehicle weight of fewer than 14,000 pounds, be “made by a qualified manufacturer,” and those vehicles have to go through a final assembly in North America. The vehicle also has to be new and the seller has to report “your name and taxpayer identification number to the IRS for you to be eligible to claim the credit,” the release said.
It also said there are price and income caps, including $55,000 for sedans as well as $80,000 for trucks, vans, and SUVs. A list of EV manufacturers was placed on the IRS website.
The article concludes:
John Bozzella, president and CEO of the Alliance for Automotive Innovation, told the outlet that he believes only few of the 90 or so electric vehicles that are on sale in the United States will be eligible for the tax credit starting next month.
“Some EVs will certainly qualify for a partial credit. Given the constraints of the legislation, Treasury’s done as well as it could to produce rules that meet the statute and reflect the current market,” he warned to Reuters.
How many of us can afford to pay upwards of $55,000 for a vehicle? What is behind this push for electric vehicles and the gradual phasing out of gasoline-powered vehicles? The automobile is a major part of American life.
According to House Grail:
In 2017, the average US household owned 1.88 cars. The average US household consisted of 2.54 people which means the average American owns 0.74 cars, although this includes children that would have been too young to drive.
If approximately 75% of the population are old enough to drive, then the driving population owns 0.99 of a car each, on average.
What would be the impact of ending the sale of cars with gasoline engines and replacing them with cars the average American cannot afford? The impact would be the loss of individual freedom. Trips to the grocery store to pick up one or two items would be a thing of the past. Trips would have to be carefully planned. How often would families be able to get together? The family is the building block of our society, what happens when family dinners on holidays are no longer possible?
The push for electric cars is a sham. It is a reach for further government control and less freedom for Americans. Putting cars out of the financial reach of average Americans is not a good idea.