Trump's EV Tax Credit Repeal Sparks Market Reactions and Political Support

The Trump administration is reportedly planning to eliminate electric vehicle (EV) tax credits, which offer up to $7,500 in discounts, as part of broader tax reform. This move could impact EV adoption, which is crucial for transitioning away from fossil fuels. Tesla, led by Elon Musk, is seen as well-positioned to thrive without these incentives, potentially gaining a competitive edge. However, the repeal could face challenges, as some Republicans, especially those with EV-related industries in their districts, support maintaining the credits.