Trump transition palns to kill $7500 consumer tax credit for electric vehicles — report | Forexlive

Reuters reports that Trump’s transition team is targeting ending the $7500 consumer subsidy for buying an electric vehicle, citing two sources.

Trump has mentioned ending it so it’s not a big surprise.

The report says Tesla supports ending it and notes that Elon Musk has said that while it would hurt Tesla sales, it would devastate rivals.

The transition team believes ending it would be an easy win in a Republican Congress and save money.

Shares of Tesla caught a huge post-election bump but are down 3% today. I’d ima