{"id":13065,"date":"2021-11-06T14:35:04","date_gmt":"2021-11-06T18:35:04","guid":{"rendered":"https:\/\/autosector.com\/auto\/?p=13065"},"modified":"2021-11-06T14:35:04","modified_gmt":"2021-11-06T18:35:04","slug":"congress-passes-1-2-trillion-infrastructure-bill-12500-ev-tax-credit-still-awaits-passage","status":"publish","type":"post","link":"http:\/\/autosector.com\/?p=13065","title":{"rendered":"Congress passes $1.2 trillion infrastructure bill, $12,500 EV tax credit still awaits passage"},"content":{"rendered":"

After an entire day (and indeed months) of deliberation and negotiations, Congress approved a long debated infrastructure bill<\/a> 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\u2019s domestic legislature into action. While 6 Democrats didn\u2019t vote for the bill, 12 Republicans joined<\/p>\n

While this is a huge win for the Biden administration, the President and House Speaker Pelosi were unable to land a vote of passage for the \u201cBuild Back Better Act\u201d which includes a restructured federal tax credit for EVs to up to $12,500.<\/p>\n

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From day one of President Biden\u2019s tenure in the White House, he has shared clear intentions to utilize Democrat majorities in Congress to get some major infrastructural legislation passed. <\/p>\n

This cash injection into US infrastructure focuses on improving everything from roads, to waterways, and the promotion of electric vehicle adoption nationwide. <\/p>\n

One of the early terms of Biden\u2019s proposed bill was a restructuring of the country\u2019s current federal tax credit program for zero-emission vehicles<\/a>. The current program offers US consumers up to $7,500 in federal tax credits for EV purchases, but limits the incentives for automakers at 200,000 unit sold.<\/p>\n

For that reason, major American manufacturers like Tesla and GM have long surpassed that threshold, and their customers have been unable to take advantage of the credit. <\/p>\n

Since the infrastructure plan was introduced earlier this year<\/a>, it has faced opposition from conservatives and moderates in Congress and seen many iterations. <\/p>\n

Earlier this week, we reported that Congress\u2019 most recent reform on the bill still included the $12,500 EV tax credit which had been folded into the Build Back Better Act<\/a> to stay alive.<\/p>\n

With the latest news out of the Capital early Saturday morning, a major infrastructural bill has passed, but the \u201cBuild Back Better Act\u201d remains in limbo, at least for now. <\/p>\n

\"12500
The current incentive cap for American automakers like Tesla and GM \/ Source: fueleconomy.gov<\/figcaption><\/figure>\n

The $1.2 trillion for infrastructure is a huge step forward<\/h2>\n

Early this morning Axios<\/em> shared news that the House had voted to pass a $1.2 trillion infrastructure bill<\/a> proposed by the Biden administration that will be spent over eight years. A ways off from the $2.25 trillion in spending originally proposed in March<\/a>, but a victory for the President nonetheless.<\/p>\n

While many of the exact spending details are still to come to light, the approved $1.2 trillion will include $550 billion in new spending and includes the following:<\/p>\n