The market for electric semis could get a big boost in the form of a proposed tax bill that could help reduce costs in a big way.
It’s called the Inflation Reduction Act of 2022 – it’s a reconciliation bill agreed upon by Democratic Senators Chuck Schumer and Joe Manchin that provides a tax credits for electric vehicle buyers, in addition to other programs that aim to help reduce the impact on America’s record-setting inflation and reduce overall carbon emissions.
But, while increased tax credits for consumers to buy EVs are making headlines, the makers of class 8, heavy duty electric semis and work trucks are also getting some help in the form of a tax credit that would cover fully 30% of the cost of a new, zero-emissions work truck.
The proposed credit would be capped at $40,000. That’s a big chunk off a Tesla Semi’s projected $150,000 price tag, if/when they ever hit the road – but the good news is that it will also apply to existing electric truck offerings from Volvo (above), Paccar, and Nikola.
Electric Semis at ACT Expo 2022
It remains to be seen whether or not this tax credit will apply before, or in addition to state-sponsored incentives like the $185,000 New York Truck Voucher Incentive Program we covered a few weeks ago, but either way – it shows the drayage and trucking industries are moving in the right direction.
That’s our take, anyway. What’s yours? Scroll on down to the comments section at the bottom of the page and make your voice heard!
SOURCES: WHITE HOUSE, VIA INSIDE EVS.
