Trump looks to kill EV tax credit. What it means for automakers.
President-elect Donald Trump is considering eliminating the EV tax credit from Biden's Inflation Reduction Act (IRA), which currently allows purchasers of electric vehicles in 2023 and later to qualify for a tax write-off up to $7,500. Simultaneously, the incoming Trump administration is reportedly looking to push through a regulatory framework on full self-driving autonomous vehicles. Zero Emission Transportation Policy executive director Albert Gore III joins Catalysts to discuss the potential implications. "Ultimately, these policies are working to lower costs for consumers and bring jobs to the United States," Gore tells Yahoo Finance and eliminating these policies could threaten that balance. Despite the potential changes, Gore is confident that the Trump administration wants to prioritize domestic job creation: "I think we need to have a strong demand signal that sends the message all the way up through the supply chains that they need to invest in the United States." To watch more expert insights and analysis on the latest market action, check out more Catalysts here. This post was written by Angel Smith
