美国国家公共电台 NPR--New tax credits for electric vehicles kicked in last week（在线收听）

New tax credits for electric vehicles kicked in last week

Transcript

A lot of people may be thinking about buying an electric car this year. Here's what you need to know about price caps, income limits and other rules.

DWANE BROWN, HOST:

A lot of people may be thinking about buying an electric car this year. There are lots of new models, and last year's massive climate bill included some big changes to the tax credits for buying EVs. But it's a bit complicated - well, really, really complicated. NPR's Camila Domonoske joins us. The massive climate bill last year, Camila, included some big changes, as I mentioned, in the tax credit. What are some of the biggest changes that you can tell us about that went into effect last week?

CAMILA DOMONOSKE, BYLINE: Yeah, so for this $7,500 tax credit, one headline item is Tesla Model 3s and Chevy Bolts are eligible again. Those are bestsellers that had used up their cap under the previous version of the tax credit. Now you can get a credit for them again. At the same time, a bunch of other vehicles that used to be eligible aren't eligible anymore, largely because there's a new price cap that went into effect, but also some other restrictions. And then I also want to flag - used vehicles are now eligible for the first time for a smaller tax credit. That is, of course, if you can find a used electric vehicle right now.

BROWN: Yeah, so some new EV restrictions in place. How do I figure it out? How do I figure out if I qualify?

DOMONOSKE: Yeah, so for a new vehicle - strap in, Dwane. Buckle up. This is going to be a journey. Step 1 is you go to the IRS website, and you see if the vehicle that you want is even potentially eligible. And then you have to look to see what the price cap is because there is a different price cap for different vehicles.

BROWN: Oh, my.

DOMONOSKE: And then you have to check the sticker price of the vehicle you want to see if the price is actually under the price cap, then get the VIN and confirm that the specific car you want was built in the United States...

BROWN: Oh, my gosh.

DOMONOSKE: ...Because that's going to knock out a bunch of vehicles. And then if you've done all that, you kind of need to approximate your taxes for next year, for 2022 - 2023 that you're going to file in 2024. And make sure that your adjusted gross income is under 150 grand because there's an income cap now. And make sure your tax bill itself, what you owe, is at least $7,500, or else you can't take advantage of this.

BROWN: Oh, my gosh.

DOMONOSKE: If you've done all that, you are eligible for a tax credit, provided you buy the vehicle in about the next seven weeks.

BROWN: I don't even know if I want one now.

DOMONOSKE: (Laughter).

BROWN: So what do you mean, the next seven weeks?

DOMONOSKE: In March, everything's going to change again. There are more requirements, really strict ones, that are going to go into effect. They aren't in effect right now because the IRS couldn't figure them out. But once they kick in, a bunch of vehicles won't be eligible anymore. So I asked Keith Barry of Consumer Reports, does this mean I should run out and buy a car, like, immediately? And he said this.

KEITH BARRY: If there's an electric car that you are already interested in and you know that it qualifies and you know that it's available on a dealer lot, you should go and buy it. But there is no such thing as a good deal on a bad car.

DOMONOSKE: So, yeah, don't buy a car just to get the credit. But if you're seriously considering one, you know, don't dawdle.

BROWN: (Laughter).

DOMONOSKE: And it's also worth noting, with this big change in March, what matters is when you drive the vehicle home, not when you pay for it. Anyone who tried to buy an EV in the last year can tell you, getting your hot little hands on something can be a challenge.

BROWN: Yeah, just the waiting time with all the delays and the chip shortages and all that other fancy stuff. Is there any way to make this process simpler to purchase an EV?

DOMONOSKE: Well, if you wait, it might get easier next year. If you lease, a lot fewer rules apply. But yeah, no, inherently, it is complicated. Congress is trying to do two things at once with these credits - incentivize EV sales and fight climate change, but also boost domestic manufacturing. That makes this inherently complicated.

BROWN: NPR's Camila Domonoske. Thank you.

DOMONOSKE: Thank you.