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4XE tax credit to $12,500?

gman123

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Not sure if anyone saw but the bill to increase EV tax credit to $12,500 for cars made in America and by union workers which I would assume that would be jeep 4xe. I got my 4xe in March, and I’m wondering if this bill is approved if that would apply to all ev’s purchased after Jan 1? Or starting when the bill is approved? Any thoughts?
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SpaceCase

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Not sure if anyone saw but the bill to increase EV tax credit to $12,500 for cars made in America and by union workers which I would assume that would be jeep 4xe. I got my 4xe in March, and I’m wondering if this bill is approved if that would apply to all ev’s purchased after Jan 1? Or starting when the bill is approved? Any thoughts?
Per the legislation, " Beginning January 1, 2022, the proposal makes the EV credit a refundable personal income tax credit for vehicles acquired on or after that date. "

https://www.finance.senate.gov/imo/...VWBcdGq5HDTTqSzYETvAk987rZU6busiQvfcef5ZQlGqM
 
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gman123

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viper88

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Per the legislation, " Beginning January 1, 2022, the proposal makes the EV credit a refundable personal income tax credit for vehicles acquired on or after that date. "
The link did not work.
 

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aldo98229

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4xe is not an EV, though. Despite the cord, it is a hybrid.
 

rcadden

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Key quote from the first link:

However, the Senate Finance Committee vote is only one stage in the legislative process. The “Clean Energy for America” bill still has to be submitted to the full Senate and the US House of Representatives for a vote. Thus, it is not certain whether the bill will come in its proposed form or at all.

Important to remember that this is *proposed* legislation.
 

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Echo4papa

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4xe is not an EV, though. Despite the cord, it is a hybrid.
The Electric Vehicle tax credit includes pure electric vehicles as well as plug in hybrid vehicles. The 4xe is already qualified for the current credit. This is legislation to enhance the current credit and parameters, remove the 200,000 vehicle limit and change the cutoff to a 3-year roll back once the ev (including phev's) reach 50% of the sales market.
 

rayzjeep

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when does the Gladiator get the 4xe...I need a truck but don't want to be Jeepless..
 

Bren

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4xe is not an EV, though. Despite the cord, it is a hybrid.
EV in this instance is “electrified” vehicle. The credits go by battery pack size and the 4xe qualifies for the full credit as it currently stands.
 

sethz

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This is the best news ever ! I hope that President Biden jumps in with an executive order if our dysfunctional Congress refuses to pass it. I am also looking forward to more clarity on the point of purhase incentives that he spoke about earlier this year. I am expecting that to take the total rebates north of $15K. Just what you need to get half of this country driving an electric car without which the folks that need to build the charging networks and support infrastructure may not be interested in investing billions into. Keep it rolling !
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