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

According to the Coinnet news, institutions reported that by the end of this year, Trump's huge tax bill will largely eliminate the tax credit of up to $7,500 for some Tesla models and other electric vehicle buyers, seven years earlier than originally planned. JPMorgan analysts said this will 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 preventing 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.