Ever since the days of George W. Bush, the United States has had a discount program for electric car buyers. The buyer of the new car received in the form of a tax refund of $ 7,500, but this rule applied only to the first 200 thousand cars of each manufacturer. After reaching this mark, the tax credit was reduced to zero. Tesla was the first in the United States to hit that ceiling in 2018 and lost its lead over newcomers. But soon this benefit will return again.
According to sources, Joe Biden’s party members in all branches of the US government are preparing a new law called the “Green” (Growing Renewable Energy and Efficiency Now (GREEN) Act). Everyone knows that the previous US President Donald Trump generally ignored green initiatives and understood the slogan “Make America Great Again” very one-sided. The Green Law will correct this omission.
As far as electric vehicles are concerned, it is said that manufacturers will be given back the opportunity to provide federal tax breaks of $ 7,000 (the amount reduced by $ 500) on new cars in the range of up to 600 thousand units each. Anything that the manufacturer sold above the previous 200 thousand mark, if he surpassed it earlier, such as Tesla or GM, will not be counted. This will give Tesla and GM the opportunity to sell another 400,000 electric vehicles at a $ 7,000 discount to buyers.
It is still unknown when this law will be adopted. To some extent, this could harm companies that have already passed the 200,000 mark of electric vehicles sold. Buyers can delay their purchase for a month or more while waiting for the Green Law to pass and expecting a good discount.
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