TechFlow news, June 5 — According to Jinshi Data, by the end of this year, Trump's massive tax bill will largely eliminate the $7,500 tax credit for buyers of certain Tesla models and other electric vehicles, seven years earlier than originally planned. Analysts from JPMorgan Chase said this would deal a blow of about $1.2 billion to Tesla’s annual profits. After officially leaving his White House advisory role last week, Musk has been actively blocking the president from signing the tax bill, calling it "disgusting." Musk has been lobbying Republican lawmakers—including directly appealing to House Speaker Johnson—to preserve the electric vehicle tax credits in the legislation.
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