– Republican presidential candidate Donald Trump said on Monday that if elected he would consider ending a $7,500 tax credit for electric-vehicle purchases and that he would be open to naming Tesla, opens new tab CEO Elon Musk to a cabinet or advisory role.
“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.
Asked if he would consider naming Musk to an advisory role or cabinet job, Trump said he would. “He’s a very smart guy. I certainly would, if he would do it, I certainly would. He’s a brilliant guy,” Trump said.
Musk last month publicly endorsed Trump in the U.S. presidential race. Tesla did not immediately respond to a request for comment.
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 and said he sees a “much smaller market” for EVs because of cost and battery range issues.
