Trump's transition team is planning to kill the $7,500 consumer tax credit for electric-vehicle purchases.

[Dennis Donovan]

‪Yashar Ali 🐘‬ ‪
@yasharali.bsky.social‬
31m
NEW
Trump's transition team is planning to kill the $7,500 consumer tax credit for electric-vehicle purchases.
Ending the credit could have grave implications for an already stalling EV transition.
Tesla - by far the nation's largest EV seller - has told Trump’s transition it supports ending it.

Yashar Ali 🐘
‪@yasharali.bsky.social‬
Tesla clearly supports this move because it’s anti-competitive from its perspective.

Tesla became a viable company due to credits like this but now that its dominant, by killing the subsidies, it will help it dominate the market even more.
November 14, 2024 at 2:21 PM

https://bsky.app/profile/yasharali.bsky.social/post/3lawlhcckk22z

[AkFemDem]

1. Elon Musk isn't gong to allow that.

[WSHazel]

2. That logic doesn't work

Tesla isn't just competing against other electric vehicles, it is competing against all vehicles. Cancelling this credit is a huge problem for Tesla. Now that Trump is President, he doesn't need Elon anymore.

It is increasingly looking like Elon may have backed the wrong horse.

[keep_left]

5. "Isn't it ironic" (cue Alanis Morissette music)...

It would be pretty funny if Eloon gets thrown under the bus because of this. Talk about getting hoist on your own petard.

[BannonsLiver]

7. In the article it says Tesla supports ending it

[WSHazel]

9. I saw that

It doesn't make sense, unless Trump has promised Elon some kind of other credit to offset this one.

[Lancero]

10. Trump already plans tariffs on foreign made goods, which will hit cars quite heavily.

And that'll be on top of the significant tariffs that were recently implemented on Chinese EV's, batteries, ect al.

https://ustr.gov/about-us/policy-offices/press-office/press-releases/2024/september/ustr-finalizes-action-china-tariffs-following-statutory-four-year-review

[Homoudont]

3. Tax cuts for the Wealthy

Or at least upper middle class. My family took advantage of two credits totaling $15k. EV's aren't cheap and the people purchasing them that can take advantage of the tax credit are doing fine financially. I always saw this as a tax cut for the wealthy so I won't shed a tear that they are finally doing away with them.

Now the used EV credit helps the middle class far more then the $7500 credit. Depreciated value plus another $4k off of that.

[Tickle]

4. any chance they can put that on brand new

gas cars? asking for a friend.

[MagickMuffin]

6. Sounds about right

No one will be able to afford one anyways!

I’ll keep running on petro as it’s called in Mississippi!

[Johnny2X2X]

8. Elon supports this

Many of his vehicles don't qualify for the credit anyway. he used subsidies to his benefit to build his company and now wants them canceled because it will hurt the competition more than Tesla.