Analyst: Trump's tax bill could cost Tesla $1.2 billion

Trump’s massive tax bill will largely eliminate a $7,500 tax credit for some Tesla models and other electric vehicle buyers by the end of the year, seven years earlier than originally planned, the agency reported. JPMorgan analysts said this would deal a blow to Tesla’s full-year profits of about $1.2 billion. After leaving his official White House adviser position last week, Musk has been blocking the president from signing the tax bill, which he called “disgusting.” Musk has been lobbying Republican lawmakers—including a direct appeal to House Speaker Johnson—to keep the electric vehicle tax credit in the legislation.