Did the "big bill" just end EV Tax Credits for Slates? [WARNING: NO POLITICS]

[Luxrage]

You get daily OT over 8? Sweet gig!
Wonder what the govt defines as OT. Anything over 40? Let the company define it?
Probably not the forum to discuss that… I bet Google would better serve me

Not sure, just know it shows up on the paystub as a separate 'overtime' line item, so I'm guessing they'd recognize it!

 

[SlateX]

Thanks to all posts for reminding me why I don't bother following politics too closely.
In the end, it does not matter.
I will buy a Slate, not because I get a tax break, or even that it is an EV.

My Blank Slate will be just a truck. Anything not a truck will not included. So I will be buying just what is necessary. Anything that I want in or on my Slate, I will add myself.

And...
this is the best part...
If a 2 passenger pickup truck becomes not enough, I will make my Slate into an SUV -- myself!!

Same here I don’t bother with politics and I will not wait for the government to help me. Just like some of my friends who waited for Biden to pay their student loans while I worked hard and paid it.

 

[Doctors Do Little]

The EV credit never entered into my calculations when I plopped down $50...I'm patiently waiting while learning about EV trucks on a '23 Lightning.

 

[ejbarton]

But take heart. We get additional permanent $750 /person standard deduction adjusted for inflation. And over 65 another $6000/yr for 3 year senior deduction. So additional $20250 for me, double if married. might go further than the $7500 which As I understand not everybody got either. Almost pays for my Slate. Even if under 65 you still get 2250 or 4500, more if counting beyond the 3 years so potentially more than the EV credit.

https://www.nytimes.com/interactive...e_code=1.TE8.w8Qo.mGfUtDOyVXlX&smid=url-share

Credits and deductions are very different. A $13,500 deduction over three years is worth approximately $1,350 to $3,500 in actual tax reductions for the typical taxpayer, spread out over three years. The credit is worth $7,500 in cash today. Deductions reduce the amount of income to which the tax rate is applied. Credits are applied directly to the taxes due.

 

[moondawg]

But take heart. We get additional permanent $750 /person standard deduction adjusted for inflation. And over 65 another $6000/yr for 3 year senior deduction. So additional $20250 for me, double if married. might go further than the $7500 which As I understand not everybody got either. Almost pays for my Slate. Even if under 65 you still get 2250 or 4500, more if counting beyond the 3 years so potentially more than the EV credit.

https://www.nytimes.com/interactive...e_code=1.TE8.w8Qo.mGfUtDOyVXlX&smid=url-share

That's not how deductions work. Deductions are from your income, before taxes are paid. For the average taxpayer (15% effective tax rate) a $7350 deduction is worth about $1100 in your pocket.

If you make less than about $40,000 per year, your effective tax rate is around 4%, so those deductions are only worth $300 or so.

 

[SCUDDOG]

Any industry that exists solely based upon government support... IE: Ethanol... is not a viable, sustainable industry. We all knew that government tax credits for EVs was going to go away one day. If this is the final nail in the coffin for you regarding SLATE... don't let the door hit you on the way out.

 

[Kit352]

When it’s a $7.5k difference in price, I start to pay attention. Fortunately my state offers a $3.5k rebate that will likely stick around. $27k for this truck is still competitive in today’s market and I really like the design and concept and will likely buy it even without tax credits as well, but definitely a bummer if it goes away.

If your talking about the mass mor-ev rebate that is almost certainly going away as well. Too much talk in the state house about eliminating it if the fed does away with there's. I would imagine other states would follow suit even if they don't agree with it.

 

[1yeliab_sufur1]

I mean I’m just annoyed that the ice might get a 15,000$ incentive like why just make it the same for both

 

[sodamo]

Our State, Hawaii, has a 100% renewable energy so maybe we can expect some sort of State incentive.
No wait, yesterday was the start date of the new EV road use tax.

 

[Benjamin Nead]

Any industry that exists solely based upon government support... IE: Ethanol... is not a viable, sustainable industry. We all knew that government tax credits for EVs was going to go away one day. If this is the final nail in the coffin for you regarding SLATE... don't let the door hit you on the way out.

But the point has been made elsewhere on this forum that the fossil fuel industry is allotted approximately 760 billion dollars annually in direct and indirect subsidies from the federal government . . .

https://www.fractracker.org/2025/03/fossil-fuel-subsidies-free-market-myth/

Please debunk or challenge anything here. I wouldn't want the door to cycle back and whack you in the teeth on your way back in.

And Ethanol? Why are we still talking about Ethanol? That exactly the sort of anachronistic cash cow that fossil fuel industry subsidies were taking advantage of over the past 30 or 40 years.

 

[sodamo]

Maybe an empty hope, but just maybe the manufacturers will give up this free money and adjust their prices. Maybe Slate will lead the way.

 

[B1050]

But the point has been made elsewhere on this forum that the fossil fuel industry is allotted approximately 760 billion dollars annually in direct and indirect subsidies from the federal government . . .

https://www.fractracker.org/2025/03/fossil-fuel-subsidies-free-market-myth/

Please debunk or challenge anything here. I wouldn't want the door to cycle back and whack you in the teeth on your way back in.

And Ethanol? Why are we still talking about Ethanol? That exactly the sort of anachronistic cash cow that fossil fuel industry subsidies were taking advantage of over the past 30 or 40 years.

Agreed, also the US is already behind the rest of the world in so many things this will just set us back even further. The same people argued for keeping horses when cars were invented and stocked up on incandescent light bulbs when LEDs took over. It's why this country can't manufacture anything real anymore.

 

[1yeliab_sufur1]

So what your saying is we need to start a petition for fare and equal automotive market to not only equalize the ev to ice but also to increase American manufacturing and mining to a updated standard for a brighter future

 

[cadblu]

For those of us considering financing instead of paying cash for your new Slate, here is another incentive currently included in the big, beautiful bill...

"Provide deduction of up to $10,000 for loan interest on new vehicles that undergo final assembly in the U.S. For tax years 2025-2028."

So, if the bill passes and you take delivery in 2027, appears you can write off the interest on the loan for 2 years. That's not bad considering the first two years of an auto loan are heavily biased towards interest and very little is applied to the principal.

Assuming the ev credit no longer applies (a safe bet) and you finance the entire amount with tax ($30K) @ 7% the interest paid in the first 24 months is $3,280 that can be written off your taxes. Not too shabby.

 

[1yeliab_sufur1]

For those of us considering financing instead of paying cash for your new Slate, here is another incentive currently included in the big, beautiful bill...

"Provide deduction of up to $10,000 for loan interest on new vehicles that undergo final assembly in the U.S. For tax years 2025-2028."

So, if the bill passes and you take delivery in 2027, appears you can write off the interest on the loan for 2 years. That's not bad considering the first two years of an auto loan are heavily biased towards interest and very little is applied to the principal.

Assuming the ev credit no longer applies (a safe bet) and you finance the entire amount with tax ($30K) the interest paid in the first 24 months is $3,280 that can be written off your taxes. Not too shabby.

true but is that for ev,ice, or both be I’ve seen many some other things that favor the ice vs ev