Analyst: Trump's tax bill could cost Tesla $1.2 billion

according to institutional reports, by the end of this year, Trump's huge tax bill will largely cancel the $7,500 tax credit for Tesla and other electric car buyers, seven years ahead of schedule. Analysts at JPMorgan Chase said this would hit Tesla's annual profits by about $1.2 billion. Musk has been blocking the president from signing the tax bill since leaving the White House last week, calling it "disgusting." Musk has been lobbying Republican lawmakers - including making a direct appeal to House Speaker Johnson - to preserve the electric vehicle tax credit in the legislation.