🤫🧢 One of the lesser-mentioned tax credit rules that started on January 1 is a cap on the total price per vehicle.
🤑🚙 The full $7,500 tax credits are only available to cars priced at $55K and under, while SUVs can cost up to $80K and qualify.
🙋♂️🚗 General Motors has called up the US Treasury to help them see the SUV-like features of the $63K Cadillac Lyriq, despite existing rules that classify it as a sedan.
🔋🤨 Tesla and VW are also dealing with what they consider misclassification.
👎🪖 A Treasury spokesperson defended the delineation criteria. The department is still on track for final decisions in March.