Drag

Let’s get in touch

Schedule a meeting with our Expert to discuss your needs and explore tailored software solutions.

Support center +91 9825 122 840

Logo
About

About Us

Rejoicehub LLP, a prominent offshore IT outsourcing firm, was established in 2019 and has been making remarkable strides in the IT sector.Our dedicated team of over 100 professionals is our greatest asset. Our unwavering commitment to excellence has made us a highly sought-after company globally. We prioritize understanding our clients perspectives to enhance their product development process. Our adept professionals are capable of providing top-notch solutions. We promise our clients to bring their unique ideas to the market in a more user-friendly manner. Punctuality is a cornerstone of our work philosophy, and we prioritize delivering exceptional quality.

Career

Career

We offer careers, not jobs

Becoming a part of Rejoicehub LLP could mark a significant turning point in your life, offering numerous benefits along the way. Its a second home where teamwork is prioritized to achieve our shared objective - continuous evolution with cutting-edge technologies while ensuring the well-being of our most treasured resources, our employees. Embrace the Positive Vibes and the significance of maintaining a healthy Work-life Harmony by collaborating with us.

SOLUTIONS

SOLUTIONS

Case Study

Explore Our Trending Case studies

Visualize yourself being in the place of those clients who are talking about their problems, victories and how our IT solutions was very important for them. From showing how workflow optimization or cybersecurity reinforcement can be implemented through a case study approach to explaining that collaboration and innovation is able to overcome any difficulty.

Technology

Technology

Starterkit

Starterkit

Blogs

Our Blogs

Our blog is packed with valuable resources to keep you ahead of the curve. Explore industry trends, discover hidden tech hacks, and gain expert insights to optimize your operations and stay on top of the latest advancements.

Contact

Let’s get in touch

Great! We are excited to hear from you and lets start something special together. call us for any inquiry.

At Rejoicehub LLP, we are deeply passionate about creative problem-solving, innovative thinking, and pushing the boundaries of brands. With each client, we bring forward a commitment to forward-thinking solutions that drive success in the digital age.

The $7,500 EV tax credit is on Trump’s chopping block

Date November 15, 2024

Writen by Kirsten Korosec

newsImage

Republicans have long opposed the $7,500 federal tax credit for electric vehicles contained in the Inflation Reduction Act (IRA). Now, it seems President-elect Donald Trump’s transition team has made that a priority with plans to end the tax credit as part of broader tax reform legislation, Reuters reported citing two unnamed sources.

TechCrunch has confirmed the information with one source noting that the transition team appears “resolute on this.” Reports of the transition team’s intentions caused the stock price of Rivian, and other exposed automakers, to fall. Tesla shares fell 5%, and Rivian shares dropped by more than 12%.

Despite the seeming risk for Tesla, the company’s CEO Elon Musk (who is also a Trump ally) has previously supported removing the subsidy. “Take away the subsidies. It will only help Tesla,” Musk wrote in a July 2024 post on X, the social platform he owns.

It’s worth noting that killing the tax credit cannot be done with the wave of an executive order once Trump is in office. The so-called 30D Clean Vehicle Credit, which gives consumers a $7,500 tax credit for certain qualifying EVs, is part of the tax code. This means it must be approved by Congress.

The best chance to remove the tax credit would be to include it in the tax reform package that is expected to go to Congress in the spring. In the meantime, the Trump administration could use the Treasury Department, which would make it more difficult to attain the tax credit.

Of course, Republicans will have to evaluate some of the provisions established in the EV tax credit, which are designed to incentivize domestic manufacturing and to make the U.S. less reliant on exports from China. To qualify for the EV tax credit, vehicles must be assembled in the United States, and certain battery components and critical mineral sourcing requirements must also be met. For instance, the IRA mandates at least 50% of the value of certain critical minerals in an EV battery must be sourced and processed in the U.S. or a trade partner country. That requirement increases by 10% every year through 2027.


Work with us

We would love to hear more about your project

Let’s talk us