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Hyperdrive

Elon Musk Aims to ‘Kill’ Trump Tax Bill as He Fails to Save EV Credits

Musk ‘Seems Pretty Dug In’ on Tax Bill, Speaker Johnson Says

Takeaways by Bloomberg AI

Elon Musk is on a mission to block President Donald Trump’s tax bill after he tried — and failed — to convince Republican lawmakers to preserve valuable tax credits for electric vehicles in the legislation, according to a person familiar with the matter.

The Tesla Inc. chief executive officer personally appealed to House Speaker Mike Johnson to save the tax credit, the person said, requesting anonymity to discuss a private conversation. The House version of the tax measure calls for largely ending the popular $7,500 electric car subsidies by the end of 2025 that Tesla has benefited from for years.