Musk, on Capitol Hill, says ‘get rid of all credits’
Elon Musk, the billionaire electric vehicle mogul whom President-elect Donald Trump has tapped to help lead a government efficiency task force, told POLITICO’s E&E News on Thursday that he wants to eliminate tax breaks for EV buyers. The Tesla CEO was on Capitol Hill on Thursday morning meeting with lawmakers to discuss his plans to downsize federal agencies and programs, slash what many Republicans consider wasteful spending, and boost the government’s productivity. He is poised to lead the so-called Department of Government Efficiency, or DOGE, alongside fellow Trump surrogate Vivek Ramaswamy. Both men had a number of meetings scheduled with lawmakers Thursday. “I think we just need to make sure we spend the public’s money well,” Musk told reporters after leaving the office of incoming Senate Majority Leader John Thune. In response to a question about whether he would want to get rid of the $7,500 tax credit for certain electric vehicle purchases that Democrats passed as part of their 2022 climate law, Musk said, “I think we should get rid of all credits.” Musk, a major Trump donor, has previously stated on the social media platform X, which he also owns, that he believes the government should scrap tax credits. “Take away the subsidies. It will only help Tesla,” he posted in July, before Trump tapped him to lead his new advisory committee. “Also, remove subsidies from all industries!” The Biden administration has relied on subsidies, grants, loans and tax credits to supercharge the clean energy transition, namely through the Inflation Reduction Act’s $369 billion in climate spending and the bipartisan infrastructure law. Congressional Republicans were making plans this week for using budget reconciliation early next year to roll back many of those energy and climate investments. Many of those programs, however, have gained some bipartisan support as funds have flowed to Republican-led districts. In a meeting this morning, Ramaswamy talked with Sen. Joni Ernst (R-Iowa), who is leading the new Senate DOGE Caucus. House Speaker Mike Johnson (R-La.) organized a meeting among all House and Senate Republicans with Musk and Ramaswamy, slated to take place Thursday afternoon.
Elon Musk, the billionaire electric vehicle mogul whom President-elect Donald Trump has tapped to help lead a government efficiency task force, told POLITICO’s E&E News on Thursday that he wants to eliminate tax breaks for EV buyers.
The Tesla CEO was on Capitol Hill on Thursday morning meeting with lawmakers to discuss his plans to downsize federal agencies and programs, slash what many Republicans consider wasteful spending, and boost the government’s productivity.
He is poised to lead the so-called Department of Government Efficiency, or DOGE, alongside fellow Trump surrogate Vivek Ramaswamy. Both men had a number of meetings scheduled with lawmakers Thursday.
“I think we just need to make sure we spend the public’s money well,” Musk told reporters after leaving the office of incoming Senate Majority Leader John Thune.
In response to a question about whether he would want to get rid of the $7,500 tax credit for certain electric vehicle purchases that Democrats passed as part of their 2022 climate law, Musk said, “I think we should get rid of all credits.”
Musk, a major Trump donor, has previously stated on the social media platform X, which he also owns, that he believes the government should scrap tax credits.
“Take away the subsidies. It will only help Tesla,” he posted in July, before Trump tapped him to lead his new advisory committee. “Also, remove subsidies from all industries!”
The Biden administration has relied on subsidies, grants, loans and tax credits to supercharge the clean energy transition, namely through the Inflation Reduction Act’s $369 billion in climate spending and the bipartisan infrastructure law.
Congressional Republicans were making plans this week for using budget reconciliation early next year to roll back many of those energy and climate investments. Many of those programs, however, have gained some bipartisan support as funds have flowed to Republican-led districts.
In a meeting this morning, Ramaswamy talked with Sen. Joni Ernst (R-Iowa), who is leading the new Senate DOGE Caucus.
House Speaker Mike Johnson (R-La.) organized a meeting among all House and Senate Republicans with Musk and Ramaswamy, slated to take place Thursday afternoon.
