Quote:
Originally Posted by tomato coupe
$47k is the average price of a new car purchased in the U.S. Regardless, the tax credit is available if you buy a $28k Nissan Leaf instead of a $28k Camry.
The tax credits are for people below those AGI levels, which means they're available to ordinary people.
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40% of households pay no federal income tax, so they're out, ordinary people there. Takes about
$85k family income to even pay above the $7500 tax credit, well above that to fully write it off, so let's say in that $150k-$299k window. In terms of
percentile that's 80th -95th.
As to the car stats, $47k is the average vehicle cost (
KBB data, which I presume is your source, includes cars SUVs, trucks, EVs) not the average passenger car cost (avg EV cost per KBB is $66k so above threshold)
anyway, I get it "ordinary people" and we're spending money we don't have..