Earlier this week, Fisker announced its reservation holders that it found a loophole allowing them to benefit from the full $7,500 tax credit before the Inflation Reduction Act goes into effect. According to Fisker, the bill's "Transition Rule" could work in favor of current reservation holders if they enter into a binding contract before the Inflation Reduction Act goes into law.

Essentially, a taxpayer who has entered into a new vehicle contract before the new law is passed could be treated as a customer ordering a vehicle while the previous bill was still in place. As it turns out, other EV makers are now doing the same, offering binding purchase agreements to reservation holders in order to secure existing federal tax credits before the Inflation Reduction Act becomes legislation—which could happen as early as next week if the House of Representatives passes the bill and the President signs it.

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Biden's Inflation Reduction Act Forces Both Rivian And Lucid To Require Reservation Holders Sign Binding Agreements

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