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Tax Credit - Senate Parliamentarian Reportedly Ruled

R1Sky Business

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According to what Electrek reported, the R1s may just make the cut.
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electruck

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Jac

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Did they change anything important?
EV legislation cleared the Senate as proposed. Senator from Nebraska attempted to drastically cut back EV tax credit eligibility but that amendment proposal was defeated along party lines by the majority party. Nebraska is the third biggest corn producing state in the country and has a financial interest in preserving ethanol usage levels and government ethanol fuel additive mandates.

NY Times coverage:

“Another amendment from Senator Deb Fischer, Republican of Nebraska, would limit the use of the electric vehicle tax credit and prohibit it from being used for any vehicle costing more than $42,000. The average price for an electric vehicle in the United States is about $66,000, compared with $46,000 for all new cars.

It also would limit the tax credit to buyers with an annual income of less than $75,000.”
 
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R1Sky Business

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So all accounted for....so far so good. And is a point of sale credit instead of tax credit
 

zymolysis

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And people had the audacity to say this bill is a step in the right direction, without even knowing what it does. Reminds me of Pelosi's "we have to pass the bill so you can find out what's in it" line on ACA.
It is a step in the right direction. If you want it to be more than "a step," this shows you who to vote for.
 
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ads75

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If the $7500 credit is not available due to the new bill, are people really contemplating canceling their preorder???
I would consider cancelling. I don't know that I will, but I may. The most I ever spent on a vehicle was around $55k about 10 years ago on an Audi A6, I loved it other than maintenance cost. I can afford the Rivian, but the money factor is real. A new 2023 Chevy Colorado/GMC Canyon will probably top out somewhere just above $50k, assuming no dealer shenanigans (maybe higher, guessing a moderate increase over this years pricing). $80k for a R1T vs $50k for a Chevy/GMC. I can walk to my chevy dealer. The two closest Rivian service centers to me are 2.5 hours away, without traffic. No doubt the Rivian is higher quality, and is better on the road, but $30k can buy a lot of gas, or a teardrop trailer. And if I want to tow a teardrop, I feel like ICE is a better option. I still have the pre-March pricing, so that does help.
 

manitou202

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I would consider cancelling. I don't know that I will, but I may. The most I ever spent on a vehicle was around $55k about 10 years ago on an Audi A6, I loved it other than maintenance cost. I can afford the Rivian, but the money factor is real. A new 2023 Chevy Colorado/GMC Canyon will probably top out somewhere just above $50k, assuming no dealer shenanigans (maybe higher, guessing a moderate increase over this years pricing). $80k for a R1T vs $50k for a Chevy/GMC. I can walk to my chevy dealer. The two closest Rivian service centers to me are 2.5 hours away, without traffic. No doubt the Rivian is higher quality, and is better on the road, but $30k can buy a lot of gas, or a teardrop trailer. And if I want to tow a teardrop, I feel like ICE is a better option. I still have the pre-March pricing, so that does help.
I get how the $7500 could be a factor if comparing to similarly priced EVs or vehicles. But you are talking about a truck that costs $30k less and has completely different capabilities. I don’t see the $7500 being a big factor. If you are concerned about the price of the R1T you shouldn’t have been considering it regardless of the $7500.

Nothing comes close in comparison to the R1T. The Lightning is the closest but it too will face the same MSRP constraint.
 

AxelR

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If the $7500 credit is not available due to the new bill, are people really contemplating canceling their preorder???
I don’t know if you’re being serious or sarcastic but here is my thought on this.
We don’t need the credit but we’ve believed this whole time we’d get it. We don’t need the Rivian but it’d be better in terms of mpg than the Raptor. We’re not thinking about just flipping it. We bought a Model 3 almost a year ago and didn’t get any credit, hell we even spent a few thousands more to get it faster which is why we got the Performance instead of the Long Range. We live in California, we make good money but money in Cali doesn’t have the same value. So yes, at the end of the day, losing the tax credit (income cap) kinda sucks simply because we thought we’d get it.
The fact that unlike Fisker, Rivian will most likely do nothing about it also kinda sucks. But it does go along their bad comm and their sustainable plastic leather.
So yeah, people think about it. And we will probably still buy it as we convince ourselves that an electricity guzzler may help the future of our daughter while allowing us to do fun stuff.
 

ads75

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I get how the $7500 could be a factor if comparing to similarly priced EVs or vehicles. But you are talking about a truck that costs $30k less and has completely different capabilities. I don’t see the $7500 being a big factor. If you are concerned about the price of the R1T you shouldn’t have been considering it regardless of the $7500.

Nothing comes close in comparison to the R1T. The Lightning is the closest but it too will face the same MSRP constraint.
Sometimes it's about hard numbers, and drawing a line in the sand. That's why I can afford the Rivian. If I were to play the "what's another $10k game", I may wind up with something like a Porche Cayman 4.0 instead of the Rivian, since the Rivian won't be the last of it's kind. And lightweight sports cars may be near the end with the weight of batteries.
 
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I don’t know if you’re being serious or sarcastic but here is my thought on this.
We don’t need the credit but we’ve believed this whole time we’d get it. We don’t need the Rivian but it’d be better in terms of mpg than the Raptor. We’re not thinking about just flipping it. We bought a Model 3 almost a year ago and didn’t get any credit, hell we even spent a few thousands more to get it faster which is why we got the Performance instead of the Long Range. We live in California, we make good money but money in Cali doesn’t have the same value. So yes, at the end of the day, losing the tax credit (income cap) kinda sucks simply because we thought we’d get it.
The fact that unlike Fisker, Rivian will most likely do nothing about it also kinda sucks. But it does go along their bad comm and their sustainable plastic leather.
So yeah, people think about it. And we will probably still buy it as we convince ourselves that an electricity guzzler may help the future of our daughter while allowing us to do fun stuff.
i remain hopeful Rivian will act quickly this week and offer all preorder holders an opportunity to be eligible for the current tax credit even if our Rivian is delivered in 2023 by offering us a binding purchase contract we can sign before the President signs the legislation.
 

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AxelR

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Sometimes it's about hard numbers, and drawing a line in the sand. That's why I can afford the Rivian. If I were to play the "what's another $10k game", I may wind up with something like a Porche Cayman 4.0 instead of the Rivian, since the Rivian won't be the last of it's kind. And lightweight sports cars may be near the end with the weight of batteries.
I like that thinking. Let’s get the GTS and forget about practicality. Oh wait, there’s no allocation and it’s 20-40k more.
Not making fun, I think similarly.
I already have a 80k Raptor, gas is getting cheaper, the Rivian slowly makes less sense. Still convincing myself I’m saving the world for my 3.5yo daughter if I get the Rivian.
 

AxelR

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i remain hopeful Rivian will act quickly this week and offer all preorder holders an opportunity to be eligible for the current tax credit even if our a Rivian is delivered in 2023 by offering us a binding purchase contract we can sign before the President signs the legislation.
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ads75

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I like that thinking. Let’s get the GTS and forget about practicality. Oh wait, there’s no allocation and it’s 20-40k more.
Not making fun, I think similarly.
I already have a 80k Raptor, gas is getting cheaper, the Rivian slowly makes less sense. Still convincing myself I’m saving the world for my 3.5yo daughter if I get the Rivian.
Practicality ain't fun. I have no kids so they are not part of my decision. If I did go GTS, that might make my 2 door Wrangler my practical car. No kids, I can do that. I like my Wrangler, I just don't know I can daily drive it.
 

Bigeasy70075

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So my understanding is
1. if you take delivery in 2022 then you fall under the current credit (no income or sale price limit)
2. If you sign a binding purchase agreement in 2022 and take delivery (put the vehicle into service) in 2023 then you also fall under the current credit.

Can someone confirm this or give me a better understanding. Because if i am correct will be begging RJ to either deliver my vehicle or allow me to sign a purchase agreement. Doesn’t matter how much money you make or how expensive the vehicle you are purchasing is $7500 is $7500 and I would like to keep that in my pocket instead of giving it to the government to do who knows what with it.
 

AxelR

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Practicality ain't fun. I have no kids so they are not part of my decision. If I did go GTS, that might make my 2 door Wrangler my practical car. No kids, I can do that. I like my Wrangler, I just don't know I can daily drive it.
I commuted in a Cayman and a 911. Both stick shift.
If I were you (I only have the 1 kid and won’t have any more) I’d go GTS and Wrangler. Perfect garage.
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