#US Election

Trump’s transition team aims to kill Biden EV tax credit

Trump's transition team aims to kill Biden EV tax credit

President-elect Donald Trump’s transition team is planning to kill the $7,500 consumer tax credit for electric-vehicle purchases as part of broader tax-reform legislation, two sources with direct knowledge of the matter told Reuters.

Ending the tax credit could have grave implications for an already stalling US EV transition. And yet representatives of Tesla — by far the nation’s biggest EV maker — have told a Trump-transition committee they support ending the subsidy, said the two sources, speaking on condition of anonymity.

Trump’s transition team aims to kill Biden EV tax credit

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Trump’s transition team aims to kill Biden EV tax credit

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