Biden's Electric Vehicle Bill Should Not Pass Congress, Says Elon Musk
NDTV
Tesla's billionaire entrepreneur Elon Musk is escalating criticism about the Biden administration and Democrats for a proposal to give union-made, US-built electric vehicles an additional $4,500 tax incentive.
Tesla Inc Chief Executive Officer Elon Musk said on Monday that Congress should not approve the Biden administration's bill to boost subsidies for electric vehicles (EVs), saying the proposal would worsen the US budget deficit.
The billionaire entrepreneur is escalating criticism about the administration and Democrats for a proposal to give union-made, US-built electric vehicles an additional $4,500 tax incentive. Tesla and foreign automakers do not have unions at their US factories.
"Honestly, it might be better if the bill doesn't pass," Musk said at the WSJ CEO Council Summit.
"I'm literally saying get rid of all subsidies," he said, adding that the government should "get out of the way and not impede progress."
