●Check out our website for wheels, tires, suspension, or any other aftermarket car parts!
https://modbargains.com/

We appreciate all the comments on our last EV Tax credit video. We're happy to announce the latest news/update for the Electric Vehicle tax credit along with some answers to a Q&A we had posted on our ModBargains Instagram. Congress approved a long-debated infrastructure bill totaling $1.2 trillion. The 228-206 vote held by the US House of Representatives early Saturday morning will put a core piece of President Biden’s domestic legislature into action.

● Federal tax credit for EVs jumps from $7,500 to $12,500
◦Keep the $7,500 incentive for new electric cars for 5 years
◦Add an additional $4,500 for EVs assembled in the US using union labor
◦Another $500 for EVs using battery packs with 50% of components (including cells) made in the US
● Zero-emission vans, SUVs and trucks with MSRPs up to $80,000 qualify (increased from previous policy)
● Electric sedans priced up to $55,000 MSRP qualify (stays the same).
● The full EV tax credit will be available to individuals reporting adjusted gross incomes of $250,000 or less, $500,000 for joint filers (decreased from $400,000 for individuals/$800,000 for joint filers currently in place)
● EVs must be made in the US starting in 2027 to qualify for any of the $12,500 credit
● Eliminates tax credit cap after automakers hit 200,000 EVs sold, making GM and Tesla once again eligible

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Check out our company, ModBargains.com - where you can find aftermarket parts for your vehicle needs, whether it's interior, exterior, or performance mods along with wheels & tires packages. if you need help picking the right parts for your vehicle please give us a call at (714) 582-3330 one of our Mod Experts will be more than happy to help you. Our Mod Auto facility in La Habra, CA also provides installation services - if you're local to us stop by and check out the shop!

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