Trump's Transition Team Aims to Kill Biden EV Tax Credit - Reuters

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November 14, 2024 12:22 PM EST
(Updated - November 14, 2024 12:24 PM EST)

Trump's Transition Team Aims to Kill Biden EV Tax Credit - Reuters

  • President-elect Donald Trump's transition team is planning to kill the $7.5K consumer tax credit for EV purchases as part of tax reform.
  • Representatives of Tesla have told a Trump-transition committee they support ending the subsidy.
  • Elon Musk said earlier this year that killing the subsidy might slightly hurt Tesla sales but would devastate its U.S. EV competitors.

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