Trump says he would consider ending $7,500 electric-vehicle credit

By David Shepardson

YORK, Pennsylvania (Reuters) -Republican presidential candidate Donald Trump said on Monday he would consider ending a $7,500 tax credit for electric-vehicle purchases.

"Tax credits and tax incentives are not generally a very good thing," Trump told Reuters in an interview after a campaign event in York, Pennsylvania, when asked about the EV credit.

If elected, Trump could take steps to reverse Treasury Department rules that have made it easier for automakers to take advantage of the $7,500 credit or could ask the U.S. Congress to repeal it entirely. While president, Trump sought to repeal the EV tax credit which was later expanded by President Joe Biden in 2022.

"I'm not making any final decisions on it," Trump said of the EV tax credit. "I'm a big fan of electric cars, but I'm a fan of gasoline-propelled cars, and also hybrids and whatever else happens to come along."

He added that he would rescind the Biden administration rules that will prod automakers to build more EVs and plug-in hybrids to meet stricter emissions standards.

Trump also said that if elected, he would tap Tesla (NASDAQ:TSLA ) CEO Elon Musk for a cabinet or advisory role "if he would do it."

Musk last month publicly endorsed Trump in the U.S. presidential race.

Trump also said on Monday he would take steps to try to limit exports of vehicles produced by the Detroit Three automakers and others from Mexico for U.S consumers by imposing new tariffs.



Separately, Trump harshly criticized Alphabet (NASDAQ:GOOGL )'s Google but declined to say if he thought the company should be broken up after a judge ruled this month the company was an illegal monopoly.

"They're almost like the Wild West," Trump said of Google, without elaborating on what penalty it should face. "They're going to have to pay a great price."

Source: Investing.com