by Fred Lambert
Elon Musk calls for the Senate not to pass the $2 trillion Build Back Better Act and says Tesla doesn’t need the $7,500 tax credit for electric vehicles.
However, his concerns appear to be more about federal spending and the deficit.
The Biden administration’s Build Back Better Act is currently being discussed in the Senate, and it has been a big subject in the EV community since it contains the reform to the federal electric vehicle incentive.
It removes the limit of 200,000 EV deliveries per manufacturer and increases the incentives from $12,500, but $4,500 of that can only be accessed if the electric vehicles are coming from US factories that are unionized.
Tesla CEO Elon Musk has complained about that section of the bill, which he believes GM is behind, but he now commented more broadly on the situation.
At a Wall Street Journal conference yesterday, Musk called to kill the whole bill.