California Electric Vehicle tax credit
Purchase rebates and tax credits have been a major factor in the growth of electric cars over the past few years.
By easing the price gap between electric and internal-combustion models-and providing the allure of a cash handout-they've helped get more people into electric cars.
But for some consumers, price is less of a concern than it is for others.
The debate over whether wealthy buyers should continue to get electric-car subsidies has simmered in California for some time, and it recently reached a conclusion.
California is adding income-based caps to its rebates for electric cars and plug-in hybrids, according to Cars Direct.
Once rules are written and approved (which will likely take four to six months), the amount of subsidies buyers receive-or don't receive, as the case may be-will be determined by income.
[EDITOR'S NOTE: This article has been slightly revised to improve its accuracy, based on later details provided by the California Air Resources Board on the implementation schedule, differing thresholds for different categories of filers, and the need for the budget to the approved by the state legislature.]
Until now, the California Clean Vehicle Rebate Program offered incentives of $1, 500 for plug-in hybrids, and $2, 500 for electric cars.
Now, lower-income households will be able to get substantially more money for certain models.
Those with incomes less than 300 percent of the Federal Poverty Limit will now be able to get up to $3, 000 for a plug-in hybrid, $4, 000 for an electric car, and $6, 500 for a hydrogen fuel-cell car.
That translates to individuals earning less than $35, 310 and a family of three earning less than $60, 270.
At the same time, buyers with certain six-figure incomes will no longer be eligible for incentives on plug-in hybrids or electric cars. The thresholds are $250, 000 for individuals, $340, 000 for heads of household, and $500, 000 for those filing jointly.
However, these buyers still qualify for a $5, 000 rebate on hydrogen fuel-cell cars.
This change in policy will primarily affect Tesla Motors, whose lineup starts at $75, 000 this year.
From data gathered to date, it appears higher-income buyers are getting the majority of California rebates.
A survey from the second quarter of 2015 shows that about three quarters of rebates went to households earning more than $99, 000 a year.
Those with incomes above $200, 000 a year accounted for 26 percent of total rebates, while those with income under $99, 000 represented 27 percent.
According to the California Air Resources Board, changes were made to direct the plug-in purchase incentives "towards those most likely to value the rebate the most."
For the 2015-2016 fiscal year, which began July 1, the Clean Vehicle Rebate Program also got a boost in funding, from $121 million to $163 million.
The program has issued $217 million in rebates since 2010.How to get rid of a migraine? How to cook an egg in ramen? How to watch inauguration 2021? How long does it take caterpillars to turn into butterflies? Do what makes you happy meaning? What does tremendous mean? How to remove ear tips from airpod pro? How to clean grout off tile? What do clear crystals mean? What are the reactants of cellular respiration? Tips to stay fit when you can't excersize? What does depraved mean? How to watch logan vs floyd free? How to cure food poisoning? How to train your horse to do tricks? How to become a crane operator? What does psa mean in text? How to remove calcium deposits from arteries naturally? helper t cells play which of the following roles in the immune response yahoo What are the stable isotopes of nitrogen? How to make my dog a service dog? How to stop shaking? Cant fly planes when colorblind meaning? How marketing tricks us? What does pogs mean? Hate hate hate hate hate i don't hear what these tricks say? How to make tuna casserole? Which swtor class does the most mind tricks? How to play halo infinite beta? What does goblet squat work? Tips to stop eating when bored? How to get tips reddit? What is erp system? What does entp stand for? How to jerk? What time does the dollar general close? What is my surname meaning? What does pilgrimage mean? Meaning of so what? What time does it get dark in california? How to cook meth? How to find your airpods? How to change your wifi password? What does pushing p mean gunna? What does bricked up mean? Tricks how to protect my car from vandalism? Tips on how to make your own personalized skin on mcpe? How to install fonts? What does a female orgasm feel like? How to contact google? How to make scalloped potatoes? What does he/they mean? What does tapeworm in poop look like? What does utilitarian mean? process by which t helper with cd4 arm differentiates into effector and memory cells What does a chest compression feedback device monitor? How to replace fmf exhuast tips? What does gaht mean? How to make your cat do tricks? How to find the volume? How to upload video to youtube? How long to cook hamburgers in air fryer? Tips on how to drink half your weight in water? How to solve any rubix cube? What does hc mean? What should i do with my tips? What is the meaning of juxtaposed? What does it mean when a guy kisses your forehead? What does domineering mean? What is a stag? What does savage mean? How to calculate weighted mean? How to have more energy? What does sloth mean? What does it mean to flag an email? How do enter uber tips? What does this mean in english? How to get pokemon to do tricks? How to draw girl? How your brain plays tricks on you? What is the meaning of nunavut? How to do roller skating tricks pokemon x? What are autotrophs? What is the meaning of pearl? What does wanker mean? How to get back deleted messages? how to find training for ups drivers helper What is the meaning behind tiptoe through the tulips? How to grow psychedelic mushrooms? What does bish mean? How to cook beef ribs in the oven? How to root android? How to get emails for windows 10 tips and tricks emails? What does emd mean? What does the nervous system do? How much do chaturbate tips cost? How to get rid of stomach virus? How to transfer data to a new phone? What does sacrilege mean?